New User   Login      
Tax Management India .com TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Service tax to Joint venture of consturction

Service Tax - Started By: - Sunil M D - Dated:- 3-5-2016 Last Replied Date:- 4-5-2016 - Dear All,Request you to provide your opinion on the below query. Facts : There is an agreement between Landowner (A) and developer (B) for construction of residential complex consisting of 20 flats. A s share - 40 % i.e. 8 flats. B s share - 60 % i.e. 12 flats. B is receiving consideration for 12 flats B is collecting service tax from the buyers @ 3.09%( availing the abetment of 75%)and depositing the same. A .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

quries are as follows: -[Q.1: B will pay service tax on the 8 flats given free of cost to A, the land owner. When A sells the 8 flats to independent buyers he has to pay sales tax/VAT as per the law applicable.Q.2: Yes. B is liable to pay service tax in respect of 8 flats given free of cost to A. Value of the 8 flats is to be determined on the basis of price of comparable flats sold by B to independent buyers. If such price is not available then on the basis of cost of construction plus reasona .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version