Abatement for construction services: reduced taxable value applies where no CENVAT credit is claimed and land value is included.

Construction services for complexes or buildings intended for sale are governed by a composite abatement that fixes an effective taxable base provided the supplier has not taken CENVAT credit on inputs and the value of land is included in the charge. The abatement excludes contracts where full consideration is payable only after a completion certificate. For valuation, the amount charged includes total consideration plus fair market value of goods and services supplied by the recipient in relation to the service, minus amounts charged for goods/services supplied to the provider and any VAT or sales tax, with fair market value determined by generally accepted accounting principles.

---

---

---