F.No. 354/311/2015-TRU

[Asked by Guest]

Dear All,

Service Tax Department Issued new clarification : F.No.354/311/2015-TRU dtd 20.01.2016 regarding valuation of flats for levy of Service Tax. I would like to know from which date this will applicable. or this will applicable from day one. (i.e from 10.02.2012)

And if this is applicable from day one then what about the tax on earlier transaction.

Kindly revert as early as possible.

Thanks & regards,

Rajesh Patil

 

 

AI Summary

Retrospective effect of clarificatory circular applies to past and pending service tax valuation disputes, not to finalized proceedings.
The clarification dated 20.01.2016 on valuation of flats is clarificatory and retrospective, applying from 10.02.2012; it governs pending and future cases, cannot be used to reopen finally concluded proceedings, and may be invoked in appeals to obtain remand for fresh determination by the adjudicating authority.