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Construction of single residential unit never taxable in Service Tax
October, 30th 2015

Construction of single residential unit will Not be taxable in Service Tax. She further informed that in the construction contract, if the service receiver has supplied any of the service or material free of cost to the service tax provider, then for valuation, the fair value of free supplied material or service has to be clubbed and the service tax on the whole amount will be levied.

Said experts of the Service Tax while addressing a seminar on issues related to Construction Contracts under Service Tax Act held here at ICAI Indore Branch on Tuesday.

Key speakers were renowned author on Indirect Tax Books CA Rohini Agrawal from Mumbai and Sanjay Luniya (Ex-Director Forward Market Commission and Ex-Commissioner of Central Excise and Custom Department.

CA Rohini Agrawal stated that for determining the taxability of any service it is required to read the statute as a whole. Ascertaining the category of service is crucial for determining the tax liability. She further stated that In case of any sale of residential property service tax is not applicable when no installment is taken before the completion of the project which is evidenced by Building Completion certificate or occupancy certificate in certain cases. However if any installment is taken before completion of project then the whole project will be taxable. To prove that the building has been completed, the builder has to take the building completion certificate from the municipal authority.

She said that generally it is very difficult to take the building completion certificate from the municipal authority because in India, no builder generally construct exactly as per approved map. Once the certificate is issued by municipal authority then no removal or any action can be initiated by the Municipal Authority. She further said in India it is now essential thing that all the law shall be taken or considered as a whole and if any of the authority has found later on any default in any of the act then that authority will have right to take action against the defaulters then only illegal things or acts may be stopped.

Ex-Joint Director of foreign Trade and Ex-director of Forward market Commission Sanjay Luniya, said that after 1992, India has adopted free trade policy. Central Government is publishing every year the list of goods which can be trade without any license. Anybody can import or export the goods mentioned in that list.

He further said that, the Central Government is formulating the foreign Trade Policy with consultation with Director General of foreign Trade (DGFT).

ICAI Indore Branch Chairman CA Sunil G Khandelwal said that there are various confusions and misunderstandings with regard to issues related to Service Tax applicability on Construction Contracts, hence this important seminar was planned. CA Abhishek Maheshwari conducted the program and vote of thanks was given by Secretary CA Abhay Sharma.

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