Thanks to Martin for this much needed plateform for we all and welcome you all in this blog site. Pl. keep this active and fruitful which actually will help us all.
Recently the finance ministry has announced that the builder is exempted from paying service tax and hence the buyers are not liable to pay service tax. Also Supreme Court says the same line in the Raheja builders case. Transfer of an asset is not a service, that's what SC has said. For details on this issue one can refer to property suppliment of TOI in last month(sept'07). The TOI issue detail I can provide later. In the meeting on 17th can this matter also be discussed ? We are paying 12.5 % as service tax which is actually a huge amount.Thanks.friend
3 comments:
this excemption from ST thing is a wonderful piece of information.
would this rule be effective for future purchases only or would it apply to previous purchases as well..like in our case with SJR
I just checked the Service tax on my payment schedule.Its over a lac.
this is huge saving if the service tax excemption savings will be passed down from the builder to the buyer
what you all think?
Friend, let's take up this ST issue too in the next meeting, with the builder. But do anybody have any legal document/ information to proove this? When I checked with my bank they didn't have any info on this.
But if it's true, unless we collectively argue on it, the builder would hide this for sure. At least, we will have to make sure that each of us pay the ST as actual against the govt. receipt.
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