SERVICE TAX ON UNDER CONSTRUCTION FLATS
This query is : Resolved
05 October 2010
PLEASE GUIDE ME WHETHER SERVICE TAX WOULD BE CHARGED ON UNDER CONST FLATS IF SOLD TO SOME ONE AND ALSO IF FULLY CONSTRUCTED FLATS ARE SOLD TO SOME ONE ALSO I AM CONFUSED IF WCT IS APPLICABLE ON BUILDER THEN THE WCT REGISTRATION IS TO BE DONE UNDER VAT OR SERVICE TAX...?
05 October 2010
Service tax is applicable on receipts against flats for which completion certificate is not obtained prior to such receipt.
For fully constructed flats, for which completion certificate has been obtained, receipts are not taxable.
The Works contract of construction is taxable both under the state VAT laws as well as Service Tax Laws. You need to take registration under both.
For fully constructed flats, for which completion certificate has been obtained, receipts are not taxable.
The Works contract of construction is taxable both under the state VAT laws as well as Service Tax Laws. You need to take registration under both.
Message likes :
1 times
05 October 2010
but sir when vat is not applicable on sale of immovable property why i need to register under vat for wct also tell me whether vat is chargeable on construction material bricks , tmt bars etc ???
07 October 2010
It is true that VAT is not applicable on sale of immovable property.
However, transfer of goods(bricks etc. as mentioned by you) involved in the execution in the works contract is treated as sale for the purpose of VAT under clause 29A of article 366 of the Constitution.
In view of the above, works contract is a deemed sale for the purpose of VAT laws.
However, transfer of goods(bricks etc. as mentioned by you) involved in the execution in the works contract is treated as sale for the purpose of VAT under clause 29A of article 366 of the Constitution.
In view of the above, works contract is a deemed sale for the purpose of VAT laws.
Message likes :
1 times
07 October 2010
sir thanks a lot!!
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Is online PGCE worth it?
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
