Traders in cities from Maharashtra are rightfully agitating over proposed introduction of LBT because of their concerns about multiplicity of indirect taxes and related compliances.
Board deserves thanks from taxpayers for advance intimation & invitation for suggestions in respect of Point of Taxation rules that would be made applicable for charge of service tax. These Rules can provide useful inputs in the process of drafting of Time & Place of Supply of Service Rules that would be required to be framed under proposed GST regime.
The issue of the imposition of service tax on construction and sale of residential property has long been a matter of concern for the real estate and construction industry as well as for buyers of such residential property. It has gained much prominence after Budget 2010 because of significant amendment made therein towards taxability of sale of flats under service tax.
