Respected Members
I am doing internal audit of a builder. I have got demands from service tax dept. and i have some doubts. Experts please contribute-
We had completed the 80% of construction of residential complex as on 1.7.2010 and got the completion certificate from a CA.
CASE 1-
Suppose the full sale value is Rs 1000000. We recieved Rs 5,00,000 before 1.7.2010 and then Rs 1,00,000 each from july to november. What would be the service tax liability and when, according to the changes made by notification in 2010?
CASE 2- Suppose we had recieved only 50000 and rest whole amount was recieved after 1.7.10, then?
In my view, the main consideration is the rendering of services here. And that we had provided 80 %. So the tax liability should arise only on the 200000. Plz comment.
