Please advice whether service tax is liable on advances received after 01.07.2010 in case of constructon of residential complex ?
Rupesh Jain (SERVICE) (33 Points)
12 April 2011Please advice whether service tax is liable on advances received after 01.07.2010 in case of constructon of residential complex ?
Nirav Worah
(CHARTERED ACCOUNTANT)
(396 Points)
Replied 12 April 2011
Yes, service tax is to be paid on advance received after 1.07.2010.
Please refer notification no 36/2010 dated 28th June 2010 corrected vide corrigendum dated 29th July, 2010.
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 13 April 2011
Residential construction activity could be classified depending on the agreement under worsk contract or under resideintial complex service.
Once liability / coverage confirmed then the ST is attacrted on advances also as the defintion includes services tobe provided.
Lalit Kumar Gupta
(Service)
(609 Points)
Replied 15 April 2011
Hi.......... Rupesh
Service Tax shall be paid on advance received against residential compex and this service shall be classified under Complex Construction service as per the Provisions of Section 65A of the Finance Act, 1994.
Thanks
Lalit
CA varun Jain
(B.Com. M.Com. LCS CA-Final)
(49 Points)
Replied 08 May 2011
Residential construction activity could be classified depending on the agreement under worsk contract or under resideintial complex service.
Once liability / coverage confirmed then the ST is attacrted on advances also as the defintion includes services tobe provided.
CA varun Jain
(B.Com. M.Com. LCS CA-Final)
(49 Points)
Replied 08 May 2011
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LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
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