I am going to book a flat which is under construction. I need to pay some down payment at present and balance in the installments. Do i need to pay service tax on this transction? If yes please guide me ragarding on which amount i need to pay s.tax (on down payment/full payment) and at which rate? And please also guide me that under which service my transction falls?
09 March 2011
Service tax is leviable on advance payment once the construction of the complex is under service tax. Rate of tax depends on the scheme opted by the developer.
Will u please give me exectly the applicable service name and if there is latest notification/circular regarding this then it will be very much helpful to me.
So if possible give me the name, notification and circular if any regarding this services.
CAclubindia
