Tuesday, April 8, 2014

Buying Property ?! Xpert from BL

July 5

Banking on better times

July 1


<>   Sporadic : "Service tax from today ..." It is not a pleasant experience to be reminded of the idea of new type of the levy with its origin traced back to two full decades. The nation has come a long way ; today, the service tax net has been spread too far and wide, to leave nothing outside of it- even if no element of 'service' is involved (that is, even if no one knows and can imagine or comprehend as to who renders service and to whom and so is the proverbial million dollar (at its present value) question. Consider the latest in the series being on members' monthly share of common expenses of a building complex collected/paid to themselves i.e. the housing society constituted by themselves. The principle of 'mutuality' (it is common sense that , none can pay to self but still be regarded as 'income' or 'service' ). At least , think and keep doing so, till perchance good or better sense dawns.

Related -

 23 Jan 2014 ... There has been a latest Circular from the Ministry of Finance, that may require you to re-evaluate the method used by you to collect Service Tax ...

Ref. comment posted thereat.

Still a taxing place to do business

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Service tax -twice over ?

M/s. Jaipuria Infrastructure Developers Pvt. Ltd. Versus CST, Delhi - 2014 (4) TMI 443 - CESTAT NEW DELHI - Service Tax

Demand of service tax reimbursement collected by the appellant from the buyers of the commercial property - whether or not a person, who is not an assessee, can recover any amount from anyone as representing service tax. - Passing of service tax as paid by the contractors to the buyers of flats - Held that - The Revenue cannot be allowed to receive service tax twice in respect of same construction activities, once from the contractor and the seco........

"....water are being used up without any thought given to renewing the depleting water table. ..." No clue what exactly is in her mind/sought to be conveyed. Except that, one can readily think of the ongoing reckless / impudent pursuit of luxury , - in the name of 'private swimming pools' in the already developed so also being -developed housing projects all around ; including in 'hallis' like bengaluru, where water is most likely to exist as a commodity on paper - not on the surface or below the ground ! The most abhorring fact is the already dried-up / parched minds of the local authorities continuing with 'sanctioning' such projects, same way as a couple of far-better decades ago.

".........buy only when the project nears completion...." Instead, Is it not common sense or rather prudent to buy only after completion in all material respects- if not thereby avoid , and if not all other inescapable / inevitable inherent perils/ regrets, at least to save the certain addl. tax burden e.g. VAT, service tax, so on, wrongly imposed and come to stay for the present/ i the foreseeable future. Over to 'experts' for true enlightenment !
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