=> Construction of a Residential complex which is intended
for sale, wholly or partly, by a builder or any person authorized by the builder before, during or after construction (except in cases for which no sum is received from or on behalf of the prospective buyer by the builder or a person authorized by the builder before the grant of completion certificate by the authority competent to issue such certificate under any law for the time being in force) shall be deemed to be service provided by the builder to the buyer;]
Section 65 (105) (zzzh) of the Finance Act, 1994)
=> Assuming covered parking charge of 2,00,000/- (INR); Total service tax liability (@2.575%) would be 5150/- (INR). You should pay the service tax in proportion to parking charge payment made till date (40%), that is 2060/- (INR).
--- In MahagunpuramRWA@yahoogroups.com, Nikhil Gupta wrote:
>
> Hey
>
> I am from Phase 2, Narmada tower, 2nd Floor.
>
> I just received a letter demanding some service tax money @ 2.575% on Parking charges, which is been found to be not paid by the builder and found in recent auditing of the builder by Cent IT Dept, New Delhi.
>
> I have following doubts
>
> 1. Has people from phase 1 also been required to pay same? or only for Phase 2 guys?
>
> 2. in what proportion do i need to submit this tax as, as of now i have only paid 40% of parking in last 2 installments.
>
> 3. I have heard that some objection has been put up by recent Yadav govt in the Phase 2, project due to which the construction has slowed and booking has been closed for phase 2? is it some thing related to current auditing being going ion the company or is it separate issue? how much will it effect the final possession duration of Phase 2?
>
> Any Inputs will be helpful.
>
> Regards
>
>
> Nikhil Gupta
>
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