It should be noted that the service tax would be levied only on under construction property. A property is considered “under construction” till the builder receives a “completion certificate” from the relevant authorities.
Thus, if an amount for the purchase of a Property In India is paid to the builder before he obtains a completion certificate, it would be subject to service tax. Only if the entire amount for the property purchase is paid after the receipt of a completion certificate, there would be no levy of the service tax.
Thus, if an amount for the purchase of a Property In India is paid to the builder before he obtains a completion certificate, it would be subject to service tax. Only if the entire amount for the property purchase is paid after the receipt of a completion certificate, there would be no levy of the service tax.
Ref : http://www.raagvamdatt.com/budget-2010-2011-service-tax-on-property-house-apartments-flats
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