CA Sansaar
- All Categories
- Income Tax (1634)
- Students (770)
- Service Tax (497)
- Corporate Law (465)
- Audit (399)
- Accounts (341)
- VAT (277)
- GST (145)
- Excise (106)
- Finance (105)
- Banking (46)
- FEMA (40)
- Custom (29)
- Shares & Stock (18)
- IFRS (18)
- Income Tax Software (5)
- Cost Inflation Index (1)
Recent
- Income Tax Notice Received: What Should a Taxpayer Do?
- IN A GOVT OWENED PSU, MAKE PROVISION IN ACCOUNTS FOR ITEM HAVING CONTIGENCY IN NATURE
- GST Notice Received: How Should a Taxpayer Respond?
- CA vs CMA: Which is better?
- Can a Chartered Accountant Sign Estimated Financial Statements?
- Want to assist in Forensic Audit
- Revising 3CA 3CD to 3CB 3CD
- LFAR in Bank Branch Audit - Clause-by-Clause Discussion by CA Vivek Khurana Notes required
- Bank Branch Audit
- Got high refund
- Form 67
- GSTR9
- Partner of CA firm required
- RENEWAL OF REGISTRATION
- financial statements
- income Tax
- ITR Filing
- Property Attachement
- Liability of Independent and Non-executive director
- financial statements
- stock statement procedure for bank od loan
- ITR FILING OF ARMY UNIT
- signing of Project report
- NON CORPORATE BALANCE SHEET FORMAT
- CA FINAL
- Accounting Treatment of Mutual Fund under IndAS
- ITC Availed & Utilized on Supply from Non-Existent Firms
- GST Liability of Award received by a Company
- Reund of TDS Excess Deposited
- Income Tax TDS
- gst
- Reconstitution of partnership firm in case of death of partner and introduction of new partner
- Consolidattion of financial statemement
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- NR GST NUMBER
- Presumptive Income
- tax audit late filing penality provision applicable f.y.23-24
- Interest in outstanding demand
- sale turnover declared as per books or AIS show in itr f.y.23-24
- GST
Q. > Please Help: Service Tax on construction
I have little doubt regarding the service tax applicability on construction business.
1) Is there an option with builder to go with Notification 26/2012 @ 75% or 70% abatement on gross value including the value of the land. OR
2) With notification 24/2012 wherein as per Rule 2A(i) or 2A(ii)
As there are two business models in this industry whereby
1) Builder will sale undivided share in land to buyer and enter into construction agreement on the same.
2) Builder will enter into agreement for sale on the completion of construction and collecting installment from the buyer at predetermined intervals.
My questions are :
1) Do i have an option as builder to chose notification in 24 or 26 ?
2) On the basis of above business models, if the 1st model is in existence, as a builder can i opt for notification 24/2012 as such model is purely works contract ?
3) And if 2nd model is in existence, can as builder i opt for notification 26/2012, as its agreement for sale including land also for which my Gross Revenue charged would include Land value also ?
Experts Panelist
Comments