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Service tax abatement for ubder construction
New rate of service tax wef 01/06/2016 is 15%. abatement rate of service tax for under construction residential complex below 2000 sq ft area and below 1 crore value is 3.75 % or 4.50%
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Please note that w.e.f 01.04.2016, a uniform abatement at the rate of 70% is prescribed for services of construction of complex, building, civil structure, or a part thereof, subject to fulfilment of the existing conditions and the rate is 4.5% ie 30% of 15
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