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Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax limitation.
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Long-term leases conferring development rights, possession and effective control for a one-time premium are treated as transfers of immovable property rather than taxable renting services; associated premiums and transfer fees are consequently outside service tax. Construction of residential complexes remains taxable, but prescribed abatement applies where its conditions are met and CENVAT credit has been reversed. Interest charged for delayed payment of unit-sale consideration is liquidated damages, not service consideration. Water supplied by a governmental development authority in a sovereign function is treated as goods supply rather than taxable service. Repeated non-payment after prior notice and confirmation supports extended limitation for the residual liability.
Long-term leases conferring development rights, possession and effective control for a one-time premium are treated as transfers of immovable property rather than taxable renting services; associated premiums and transfer fees are consequently outside service tax. Construction of residential complexes remains taxable, but prescribed abatement applies where its conditions are met and CENVAT credit has been reversed. Interest charged for delayed payment of unit-sale consideration is liquidated damages, not service consideration. Water supplied by a governmental development authority in a sovereign function is treated as goods supply rather than taxable service. Repeated non-payment after prior notice and confirmation supports extended limitation for the residual liability.
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