TMI Blog2014 (12) TMI 1241X X X X Extracts X X X X X X X X Extracts X X X X ..... ed before 1.7.2010, service tax on such value is exempted. In this case, the agreement was entered into on 26.4.2010 and on that date the land was handed over, it can be said that consideration of construction of residential complex was received by the appellant on that date. We also find that the submissions of learned counsel that no monetary consideration was agreed with the land owner and the appellant as per the JDA and therefore, consideration is not ascertainable has also some force. Once consideration is not ascertainable, valuation has to be done as per Section 67 read with Service Tax (Determination of Valuation) Rules, 2006. However, only with effect from 1.7.2012, Rule 3 covered cases where ‘value is not ascertainable’ and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vided share of the land is ₹ 67,06,21,611/- which has been treated as cost of the flats/land belonging to the joint owners. 3. Learned counsel on behalf of the appellant submitted that service tax is not at all liable since there is no consideration at all. He further submitted that in this case, JDA was entered into in April 2010 and the Residential Complex Service and the liability to pay tax arose only from 1.7.2010. Further, he submitted that according to the Notification No. 36/2010-ST dated 28.6.2010, if value towards any service has been received before 1.7.2010, service tax on such value is exempted. He submitted in this case, the land was handed over to Joint Development as per the agreement on 26.4.2010 and therefore, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... considered the submissions made by learned counsel. Even though other submissions have been made, they require very detailed consideration of the definition of taxable service, date of introduction of taxable service, point of taxation, rules for valuation of service, date of various provisions coming into effect, provisions of Section 67A etc. which can be done at the time of final hearing. It is because, we consider that on one ground, at this stage, the appellant said to have made a prima facie case. 5. As per Notification No. 36/2010-S.T. dated 28.6.2010, in respect of new services introduced by Budget 2010, if value towards any service has been received before 1.7.2010, service tax on such value is exempted. In this case, the agree ..... X X X X Extracts X X X X X X X X Extracts X X X X
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