Serial no. 12 of Notification No.26/2012 as applicable w.e.f. 08.05.2013 stating that limits lower service tax to only to those houses that costs under Rs.1 crore and have carpet area less than 2000 square feet.
Carpet Area: The area enclosed within the walls, actual area to lay the carpet. This area does not include the thickness of the inner walls. It is the actual used area of an apartment/office unit/showroom etc.
Precisely the service tax rate would be:
Now, the above notification has been amended to make it clear that benefit of 75% abatement shall be available only if all the following conditions are satisfied:
tax 'N' accounts people
Tarun Kumar Gupta
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