SERVICE TAX ON APARTMENTS AND CONSTRUCTION SERVICES-ABATEMENT 75%


SERVICE TAX ON APARTMENTS AND CONSTRUCTION SERVICES

Construction services – 25% taxable

Abatement of 75%.

Service provided with respect to

  • Construction of complex, building, civil structure and part thereof , intended for sale , wholly or partially
  • Except those where entire consideration is received after issuance of completion certificate by the competent authority.
  • This is subject to the condition that input used for providing the taxable services have not been taken under the provision of CENVAT Credit Rules, 2004.
  • Value of land is included in the amount charged from the service recipient

Further, for the purpose of valuation the amount charged shall be the sum total of the amount charged for the service including the fair market value of all the goods and services supplied by the recipient in or in relation to the services , whether or not supplied under the same contract or any other contract , after deducting :

1)    The amount charged for such goods or services supplied to the service provider, if any: and

2)    The value added tax or sales tax, if any, levied thereon.

SERVICE TAX IS 12.36%

ABATEMENT IS 75%

TAXABLE IS 25%