Coimbatore builders want relief
The Builders and property promoters in Coimbatore requested to the Commissioner of Central Excise, Customs and Service Tax to focus on the problem they faced in payment of Service Tax. The Representatives of the local Builders’ Association of India and Confederation of Real Estate Developers’ Associations of India and the Coimbatore Builders and Contractors Association submitted a note to the Commissioner regarding the issue.
An official of the Commissioner ate of Central Excise, Customs and Service Tax, Coimbatore, says that the service tax target of the current year is Rs. 720 crore, which is 37 per cent more than last year’s collection.
The representative also added that the development of star hotels in the city was completed one or two years ago and there was no such construction in the last one year. The investment in the development sector has also decreased in the last 2 years.
The educational institutions have created large amount of development in the last 10 years. In case of residential development, the sale of apartment and booking has decreased due to some reasons.
Some developers and property promoters are receiving notices for paying the service tax. After the competition of audit the re-audit is not allowed, Re-audit is only allowed if evidences are found.
The official also says that notices are not allowed to those who have got the relaxation from the notices.
Source: The Hindu
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