PURCAHSE OF UNDER CONSTRUCTION FLAT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 March 2011
Dear Sir,
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?
Please reply me at your earliest.
I need your help.
Thx
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?
Please reply me at your earliest.
I need your help.
Thx
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.
Message likes :
1 times
09 March 2011
Agree with expert. S Tax is payable alongwith every payment.
Most developers opt for the 75% abatement scheme under which the effective rate is 2.575%.
Most developers opt for the 75% abatement scheme under which the effective rate is 2.575%.
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 March 2011
Dear Sir
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.
Thx
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.
Thx
09 March 2011
Read construction of complex service, works contract service , W.C.Composition scheme, Abatement notification No.1/2006 r.w 29/2010.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- TDS deduction (debit notes)
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
