Dear learned friends,
Sale of an underconstruction flat attracts service tax in the hand of builder as occupancy certificate/completion certificate is yet to be issued for that flat. Now, an owner (not a builder/promoter) who purchased a flat about 5 years ago has resold his flat for which no occupancy/completion certificate has been issued by the Municipality. Whether payment of service tax is obligatory in his case! What are the other legal complications which may arise in future as far as taxation is concerned!
Pls reply.
With regards.
