Dear members,
Kindly clarify my query at the earliest.
I am the owner of a site of 8100.00 sft in bangalore, and there is a residential complex being built on this land, wholly designed, drawn, surpervised, iand constructed by me, by just giving labour contract only. There are 12 residential units in this complex.
Kindly clarify the following.
1. Is service tax applicable for the potential purchasers of the units, who enter into an agreement and pay before completion of the complex.
2. Is service tax applicable to those purchasers if I sell them after completion.
3. If so, on what basis of the recent amendment and also what is the rate of service tax.
4. Since I am the land owner and as well builders, am I not exempted from service tax, since if I bill in the name of myself then the service is for myself and there is no tax, and if it is for the pottential purchaser, then the work is for his personal use, and for personal use there is no service tax.
advance thanks very much
meharnath.
CAclubindia
