Tripartite agreemnt for builders

LL.B M.B.A Corporate Lawyer and Management Consultant

Hi learned friends ,any body help me to get tripartite agreement for builders .

what is the status of service tax on builders?

 
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Director

Service Tax on Builders has been done away with vide CBEC Circular No 108/02/2009-ST dated 29th January, 2009.

 
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There would be no service tax as per circular 108

but I advised to collect tax from customers/purchasers until final G.O.has been issued. After that u can refund it the same.

 
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Director

Dear Sir,

How can you collect asomething which is neither leviable by Law nor the being deposited in trasury.

The position of law in respect of Builders and Developers of Residential Complexes has been clarified vide the referred Circular and I don't thing we need any final GO on the same.

 
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LL.B M.B.A Corporate Lawyer and Management Consultant

Thanks for all contributors.In our case land owner and builder are same ,any problem if i made an agreemnt between land owner/builder with villa owner? any tax or statutory implication other than Tripartite agreement ( Land owner-builder-villa owner)  ?

 
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Director

Sir, you suggest that land owner and builder are same. Then how does the need arise for a tripartite agreement. The agreement will be between the builder and the customer .

As for second part, if the builder makes a seperate agreement for land the other for constrution of villa with the customer, the second agreement will be liable to service tax as in this case builder is acting in capacity of contractor to the owner.

 

 
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