Service Tax
The Supreme Court today maintained its stay on a Delhi High Court order that sought to restrain the Centre from recovering service tax on renting property for commercial use. A bench comprising Justices Mukundakam Sharma and A R Dave said that the apex court’s interim order of January 13 will continue till further orders. The [...] Continue Reading »
The services such as construction, erection, commissioning or installation, repair services provided prior to 1 June 2007 made taxable with effect from 1 June 2007. In case a contract where the provision of service commenced prior to 01.06.2007 and any payment of service tax was made under the respective taxable service before 01.06.2007 – No [...] Continue Reading »
The sales tax department has threatened to take action against many builders after having come across several cases of tax evasion. The Builders have already collected Tax on under-construction property from the property buyers. But only a few have deposited it. Construction projects in the city and the state are once again under the scanner. [...] Continue Reading »
The budget 2010-11 had imposed 10 per cent service tax on under construction property. The property is considered “under construction” till the builder receives a “completion certificate”. According to Source, Service Tax is applicable only on property under construction or where a completed building has not received its occupation certificate. If the entire amount for [...] Continue Reading »
