Dear Colleagues
I have a question regarding taxability of service tax for residential complex in following situation
01. Construction and Booking of residential flat commences after 01/07/2010
02. Building completion certificate received from competent authority in August 2011.
03. Builder has taken 70 % payment during the period July 2010 to August 2011
04. Balance 30 % payment has been received after obtaining completion certificate.
Now My quarry is
Is builder is liable to pay service tax on entire 100 % payment or on only 70 % payment which he has received before obtaining completion certicate?
Give your views on this and forward me circulars and/or notification in relation to this.
CAclubindia
