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Service Tax on flats post Completion Certificate, Service Tax |
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Service Tax on flats post Completion Certificate |
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A dealer has wrongly taken 100% Input tax credit without reversing the proportionate credit in respect of flats sold post Completion Certificate. Neither he has intimated the department about receiving the Completion Certifcate. The department has raised a show cause on the builder asking it to pay 7% on the exemted receipts of flats sold after CC as per Rule 6 of Cenvat Credit Rules. The Input tax credit reversal is quite less as compared to tax payable on exempted services. Kindly guide how to reply and any judgement in favour.... Posts / Replies Showing Replies 1 to 2 of 2 Records Page: 1
The case is worth fighting legally. Case laws can be traced out. It is not the intention of legislature that you take credit of RS.10 and pay RS.100/-. The purpose of framing such rule was not such.
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