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SERVICE TAX ON RESIDENCIAL APARTMENT CONSTRUCTION, Service Tax |
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SERVICE TAX ON RESIDENCIAL APARTMENT CONSTRUCTION |
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SERVICE TAX LIABILITY ON THE BUYER FOR BUYING THE FLAT FROM THE BUILDER. FLAT BOOKED DURING MAR 10 AND 90% PAYMENT MADE. BUILDER DEMANDED THE BUYER TO PAY SERVICE TAX @ 4.12% ON THE TOTAL AMOUNT PAID - LAND COST. IS IT IN ORDER.
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No. Payment paid before 1.7.2010 is not liable to service tax. Notification no. 36/2010 ST dated 28.6.2010
http://www.taxmanagementindia.com/Site-Map/Service-Tax/detail_notification.asp?ID=22921
ANY PAYMENTS RECEIVED PRIOR TO 01/07/2010 ARE NOT TAXABLE YOUR BUILDER'S DEMAND IS ILLEGAL MUST BE TURNDOWN .
However any payments made after 01/07/2010 but before obtaining completion certificate is taxable .In your case 90% payments are made in March 2010 , you need not require to pay the service tax on this 90% amount.
ANAND SHEMBEKAR
CELL NO 09209904370
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