CA Suraj Prasad Shaw (Chartered Accountant) (504 Points)
06 September 2012Percentage of abatement on service of "construction of resedential flats" for financial year 2012 -13.
Expert please guide.
Bahubali Sable
(Accountant )
(32 Points)
Replied 06 September 2012
75 % abatment for Flat Sale means tax payer only pays 12.36 % *25 % 3.09 % tax on flat agreement
RENGARAJ R.K
(ADVOCATE)
(7557 Points)
Replied 06 September 2012
When cost of the land is inclusive, the service tax is payable only on 25% of the value. He can also avail cenvat benefit on eligible inputs.
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