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latest on Service tax

Last updated: February 4 2011
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  • latest on Service tax

    Hi,

    What is the latest status of the service tax issue ?

    I was under the impression that the matter is still in court ... however, the builder with who i have booked an apt recently, is asking me to pay the service tax. He is using the following notification as a basis of this demand.

    Pl. let me know what is the status of this issue ... is it sorted out ... or still pending in court ... and what should i do ... pay the service tax or put some resistance to the builder's demand.

    ---- The following is the notification that the builder shared with me -----

    [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
    Government of India
    Ministry of Finance
    (Department of Revenue)
    New Delhi, the 28th June, 2010
    Notification No. 36/2010 - Service Tax

    G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable services specified in clause (A) of section 76 of the Finance Act, 2010 (14 of 2010) other than services referred to in clause (zzc) and (zzzz) of sub-section (105) of section 65 of the Finance Act from so much of the service tax leviable thereon under section 66 of the Finance Act as is in excess of the service tax calculated on a value which is equivalent to the amount of advance payment received before the said appointed date.
    Explanation.- For the purpose of this notification,
    (i) “appointed date” means the 1st day of July, 2010;
    (ii) “advance payment” means consideration received for the said taxable services to be provided.

    2. This notification shall come into force on the date of its publication in the Official Gazette.
    [F. No. 334/3/2010 -TRU]

    (K.S.V.V.Prasad)
    Under Secretary to the Government of India

    [TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

    Government of India
    Ministry of Finance
    Department of Revenue


    CORRIGENDUM
    New Delhi, the 29th June, 2010
    G.S.R. (E).- In the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2010- Service Tax, dated the 28th June, 2010 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 557 (E), dated the 28th June, 2010,
    for the words “in excess of ”, read “equal to”.
    [F. No. 334/3/2010-TRU]

    (K.S.V.V.Prasad)
    Under Secretary to the Government of India
  • #2

    #2

    Re : latest on Service tax

    I want to know the same thing.
    My builder is also saying that Service Tax is now applicable and I have to pay it 2.57%
    Amit!

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    • #3

      #3

      Re : latest on Service tax

      Last heard, the MCHI appeal against ST was rejected. Don't know the current status though as I doubt whether they have appealed further or not. But yes, builders are taking ST for under-constro projects.

      Buyers should ensure that they get valid receipts from the builder mentioning ST in it. If builder is not ready to mention this, be assured that something is fishy.
      If you are happy, you are successful.

      Comment

      • #4

        #4

        Re : latest on Service tax

        Originally posted by realacres View Post
        Last heard, the MCHI appeal against ST was rejected. Don't know the current status though as I doubt whether they have appealed further or not. But yes, builders are taking ST for under-constro projects.

        Buyers should ensure that they get valid receipts from the builder mentioning ST in it. If builder is not ready to mention this, be assured that something is fishy.
        I called up CREDAI Pune PBAP and they said that result hasnt come out...So, confused abt this
        Nothing on net too....
        How can we confirm???
        real: "Last heard, the MCHI appeal against ST was rejected"....u have source for this???????????
        Amit!

        Comment

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