Real Estate
This query is : Resolved
27 June 2011
Sir,
I want ask that what is the procedure of service tax and vat applicability in business of flats construction-:
1- under construction
2- complete flat.
I want ask that what is the procedure of service tax and vat applicability in business of flats construction-:
1- under construction
2- complete flat.
27 June 2011
If occupation certificate is granted to the house then both VAT and service tax is not application on purchase.
VAT is leviable in case any agreement for sale is registered before receipt of Occupation certificate.
ST is leviable on any advance received before receipt of OC.
VAT is leviable in case any agreement for sale is registered before receipt of Occupation certificate.
ST is leviable on any advance received before receipt of OC.
27 June 2011
Dear Member, applicability of service tax and VAT is :-
1. Under construction : VAT and service tax will be applicable on agreement value.
2. complete flat : VAT will be applicable and service tax will not be applicable in case builder has obtain CC (Completion certificate) from department other wise Service tax will be applicable..
1. Under construction : VAT and service tax will be applicable on agreement value.
2. complete flat : VAT will be applicable and service tax will not be applicable in case builder has obtain CC (Completion certificate) from department other wise Service tax will be applicable..
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