15 January 2014
If a building consists 20 Flats and 5 flats sold after obtaining completion certificate, then that 5 flat will be exempt from Service Tax or Not?
15 January 2014
Sale of Immoveable property is not a service. Once the Flat gets ready for possession, it becomes immoveable property. But it must be remembered that no booking amount is recd. prior to completion.
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