04 August 2011
I had one question regarding Service Tax.
I am working with one building Construction company. They had create on Partnership firm for construction of residential house in 2005. the construction was completed and all the houses were sold before 01.07.2010, except one house. such house is sold in this april 2011 and for that consideration received by that partnership firm. Is the Firm is liable to pay Service Tax?
05 August 2011
Unless the houses are constructed on development basis or contract basis, no service TAx is payable on the construction of residential houses.
CAclubindia
