07 June 2014
In redevelopment of existing building, the existing owners five development rights to the developer and in return they get a newly constructed flat with: a. more area; b. same area; c. same area with additional monetary consideration; d. combination of a. and c. above or b. and c.above.
What will be the value of taxable service on all of the above scenarios i.e. for existing residential flat owners.
09 June 2014
Agreed that it is a capital gain issue, but this does not prevent it from service tax liability as it is a declared service under clause (b) Section 66E of the Finance Act, 1994.
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