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Please Help: Service Tax on partial Reverse

Posted Date : 01-Jan-2013 , 05:23:08 pm | Posted By: Vinod Yadav

Category : Service Tax | Answers : 1| Comments : 0| Hits: 231

Dear Sir A New Commercial Building is being constructed. The said Immovable Property is jointly owned by 3 family concerns. Similarly Advance Payments have been made to the Building Contractor from the Individual Accounts of Each Property Owner. Now as the Builder has to raise the Bills for Construction on the Owners of the property, we would like to know what are rates of VAT ,& Service Tax or Any Other Tax Applicable on such Construction Bills (If Any). The Construction work is being done with Material & Labour from the Contractor. Please, inform us urgently

Answers:
   Answer by: CA Satuti Mahajan
VAT on 67% & Service Tax on 33%.
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