Service Tax Only on 25% of Value of Commercial and Industrial
Property
[Service
Tax Notification No. 29 dated 22nd June 2010]
In exercise of
the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994
(32 of 1994) (hereinafter referred to as the Finance Act), the Central
Government, on being satisfied that it is necessary in the public interest so
to do, hereby makes the following further amendment in the notification of the
Government of India in the Ministry of Finance (Department of Revenue), No.
1/2006-Service Tax, dated the 1st March, 2006, G.S.R. 115(E), dated the 1st
March, 2006, with effect on and from the 1st day of July, 2010, namely :-
In the said notification, in the Table, after S.No. 7 and 10 and the entries
relating thereto, the following S. No 7(a) and 10(a) and entries shall be
inserted, namely:-
|
(1) |
(2) |
(3) |
(4) |
(5) |
|
7(a). |
(zzq) |
Commercial or Industrial Construction |
This exemption shall not apply in cases where the taxable services
provided are only completion and finishing services in relation to building
or civil structure, referred to in sub- clause (c) of clause (25b) of section
65 of the Finance Act. |
25 |
|
|
|
|
Explanation.- The gross amount charged shall include the value
of goods and materials supplied or provided or used for providing the taxable
service by the service provider. This exemption shall not apply in cases
where the cost of land has been separately recovered from the buyer by the
builder or his representative |
|
|
10(a). |
(zzzh) |
Construction of Complex |
This exemption shall not apply in cases where the taxable services
provided are only completion and finishing services in relation to
residential complex, referred to in sub-clause(b) of
clause (30a) of section 65 of the Finance Act. |
25 |
|
|
|
|
Explanation.- The gross amount charged shall include the value
of goods and materials supplied or provided or used for providing the taxable
service by the service provider. |
|
This exemption shall not apply in cases where the
cost of land has been separately recovered from the buyer by the builder or his
representative.
[F. No. 334/03/2010 -TRU]