10 January 2013
sir .. if mr A gives rs 10lakhs as token money to builder to purchase the flat for rs 1 crore and mrA paid service tax on rs 10lakh as flat is under construction
in the mean while mrA agrees to give this flat to MR.C after obtaining completion certificate for rs 1.2 crore
AND SALE DEED IS EXECUTED DIRECTLY between the builder & MR.C
WHAT IS TREATMENT OF THAT PROFIT(RS 20LAKKS) DOES THAT PROFIT OF RS 20laks liable to service tax in the hands of MR.A ??
if yes,CAN HE CLAIM INPUT CREDIT OF SERVICE TAX PAID ON RS 10 LAKH???
CAclubindia
