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TMI BlogStatus of Service Tax liabilityX X X X Extracts X X X X X X X X Extracts X X X X ..... Hello experts, Thanks in advance. May I know the legal status in the given transaction. Here is a transaction such that, an agreement was entered between promoter/builder and prospective buyer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for sale of flat on completion of construction of residential complex. Now, at the stage when only foundation and compound walls have been constructed leaving the rest of the majority work incomplete ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the promoter/builder has transferred the agreement to execute the contract to another promoter/buyer. In this scenario, what would be the status of service tax liability on the new promoter/buyer? ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... N S SANDHYA Advocate, Bangalore - Reply By ashish chaudhary - The Reply = If new promoter receives advance from the buyer, service tax liability would arise. If no advance received before completio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of service by new builder, no liability in his hand - Reply By Mahir S - The Reply = The original (old) builder has to first discharge his duty liability for all payments and advances received til ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l date and thereafter the new promoter shall be liable. - Status of Service Tax liability - Query Started By: - Sandhya Vijaykumar Dated:- 10-6-2015 Service Tax - Got 2 Replies - Service Tax - Disc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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