SHARIQUE TAHSEEN (OWNER) (57 Points)
04 April 2012Dear Friends,
In the recent Union Budget, it is mentioned that the definition of "Works Contract" in Service Tax has been changed. They have widened the Works' Contract applicability.
Please clarify me, whether the exemption limit to Construction Contracts of Residential Aparments, which was upto 12 units previously, has now been removed or retained.
Best Wishes
SHARIQUE
Rahul Sharma
(Practicing Chartered Accountant)
(131 Points)
Replied 04 April 2012
The exemption which you are talking about was applicable to "Construction of Residential Complex" Service and not to "Works Contract" Service. You are getting confused, bot services are different.
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