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TMI Blog2015 (1) TMI 186X X X X Extracts X X X X X X X X Extracts X X X X ..... d only the land is the consideration and therefore, tax would demanded on the basis of the cost of the land. Prima facie, we are unable to accept the contention of the Ld. Advocate. In the present case, there is no dispute regarding the consideration received for the service is not wholly or partly consisting of money and therefore Rule 3 of the Service Tax (Determination of Value) Rules, 2006, would be invoked. tax was assessed on the basis of the value of the similar flats and therefore, prima facie, the tax was determined properly. On a query from the Bench, the Ld. Advocate submits that the Revenue has already allowed abatement while determining the tax. Hence, the applicant is failed to make out a prima facie case for waiver of pre-dep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se notice to substantiate that they have disclosed the land cost to the department. It is contended that according to the land cost, the tax payable was about ₹ 3,54,052/-. But the tax was determined on the basis of the value of 24 flats as per Rule 3(A) of the Service Tax (Determination of Value) Rules, 2006. He submits that as per Section 67 (1) (II) of the Finance Act, the service is for a consideration not wholly or partly consisting of money, be such amount in money as, with the addition of service tax charged, is equivalent to the consideration. In the present case, the consideration is the value of the land and therefore entire demand was raised erroneously on the basis of the other flats. 3. On the other hand, the Ld. AR on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Value:- 3. Subject to the provisions of section 67, the value of taxable service, where the consideration received is not wholly or partly consisting of money, shall be determined by the service provider in the following manner:- (a) the value of such taxable service shall be equivalent to the gross amount charged by the service provider to provide similar service to any other person in the ordinary course of trade and the gross amount charged is the sole consideration. (b) Where the value cannot be determined in accordance with clause (a), the service provider shall determine the equivalent money value of such consideration which shall, in no case be less than the cost of provision of such taxable s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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