29 April 2010
Hi, In the current finance bill there was service tax leveid on all properties under construction on the buyer. I have purchased a flat in Nov 2008, its still under construction. So far I have released 90% of the total sale value to the builder. Will I have to pay the service tax as part of this finance bill even though I have got into an agreement in Nov 2008? Any help on this would be highly appreciated. Regards Swaroop
01 May 2010
Service tax on residential flats is not a new levy but applicable from 16/06/2005. Notwithstanding this, the date of provision of service is the deciding criterion in levy of ST and not the payment for consideration
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