TMI BlogApplicability and liability of service taxX X X X Extracts X X X X X X X X Extracts X X X X ..... A builder who enters in to a development agreement with the buyer of the flat and receives advance payments for the same intends to pay service tax on the amounts received by him under WORKS CONTRACT services. The builder was earlier paying the service tax for the same under construction of residential complexservices .Is it obligatory for the builder to register such development contracts under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taken after 01.06.2007 with the local Sales Tax department for discharging their service tax liability under the newly introduced Works Contract services. - Reply By YASHAVANTH R.M. - The Reply = If Builders already paid ST under "Construction of residential complex services" and if would like to switchover to pay ST under "Works contract Services" for new projects, it is required to insert/amen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the "Works Contract Services" in their ST registration and pay ST under the new service.{ in your draft you may written Sales Tax Dept. instead of Service tax Dept.- if not service tax payment not connected with Sales tax department }. - Reply By V Ramanujam - The Reply = As per the Service tax Dept clarification, receipts of existing contracts entered into pre-1.6.07 should continue to be repor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted only the old category of say 'construction service'. Any new contract entered after 1.6.07 (after introduction of works contract service) may be reported under the new service in which case the certificat should be amended to include the service. - Reply By V Ramanujam - The Reply = As per the Service tax Dept clarification, receipts of existing contracts entered into pre-1.6.07 should contin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue to be reported only the old category of say 'construction service'. Any new contract entered after 1.6.07 (after introduction of works contract service) may be reported under the new service in which case the certificate should be amended to include the service. - Applicability and liability of service tax - Query Started By: - Raghu Dated:- 4-2-2008 Service Tax - Got 3 Replies - Service Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Discussion 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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