24 January 2011
service tax on construction of residential complexes
Dear all,
As it is known that service tax is levied on construction of residential complexes if the dwelling units are more than 12 in numbers. Latest abatement is 75 % in the value charged by the builder. W.e.f. 01.07.10, if the builder accepts advance payment from customers who have booked their flats, units , they are liable for service tax . Now, I have heard that there is a stay given by Mumbai High court on the applicability of service tax on construction residential complexes. Can any body throw light on the latest position in this regard ? What outcome of that stay has come or the stay is still there ? kindly share.
CAclubindia
