Service tax on property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 April 2016
Hi
A person purchased an under constructed property in March'15. He paid 10% booking amount in March'15. ST was also paid on booking amount @ 3.03% (25% of 12.36%). The next installment became due in Dec'15. At this time, ST rate changed to 3.625% (25% of 14.5%). Now, the question is should the builder charge ST @ 3.625% or 3.03% on the amount that is due in Dec'15?
A person purchased an under constructed property in March'15. He paid 10% booking amount in March'15. ST was also paid on booking amount @ 3.03% (25% of 12.36%). The next installment became due in Dec'15. At this time, ST rate changed to 3.625% (25% of 14.5%). Now, the question is should the builder charge ST @ 3.625% or 3.03% on the amount that is due in Dec'15?
04 April 2016
The builder should charge ST at 3.625%.
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04 April 2016
Service Tax for Second Installment Due ST Rate @14.50% So 25% of 14.50 amounts to 3.625%.
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05 April 2016
service tax will be @3.625%
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Querist : Anonymous
Querist :
Anonymous
(Querist)
06 April 2016
Thanks everyone !!
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