Dear All,
I have a JV agreement with a builder with 40% share of mine. Iam eligible for 2 flats. out of which iam holding one and selling another. During initial discussion with builder he didn't bring up the service tax matter. Now he says i have to pay service tax for both the flats. The flat is completing in this month.
1. Should i need to pay service tax & VAT to him. When this act was implemented.
2. If i have to pay then can i get tax rebate for the flat which iam going to hold.
3. If tax has to be paid can i collect the amount for the 2nd flat from buyer.
4. Builder says he is paying tax on quarterly basis for all six flats, hence seperate receipt cann't be given. If iam going to pay then he should give receipt isn't it.
4. How service tax is calculated.
Pls clarify.
Regards,
S.Somu
