Service tax payable on sale of flat by an individual person
sagar Rao
(Querist) 02 April 2015
This query is : Resolved
Sir,
I had given our land to construction company for building apartments on development basis, they have given 5 flats to me and I had sold all flats, In these regard I would like to know whether I had to collect service tax amount from flat owners and pay service tax amount to service tax department as I am an individual.
Please inform for which I am very great full to you.
Dr J C Vashista
(Expert) 03 April 2015
Consult your CA/Tax consultant or post in CA Club if you are unable to afford consultancy, which should not be in your case, especially after making good profit from sale proceeds of 5 flats.
Anirudh
(Expert) 03 April 2015
You have to indicate whether you sold the flats after you first received the constructed flats from the developer, or during the period when the construction of the flat was in progress.
T. Kalaiselvan, Advocate
(Expert) 08 April 2015
Service tax is payable on the newly constructed flats/apartments, you should take advise from a local tax consultant about further issues.
