Taxability of under-construction property clarified: land value included unless consideration paid only after completion certificate or occupation. The amendment clarifies that construction services for a complex, building or part intended for sale are taxable where the amount charged includes the value of land or undivided share of land, except where the entire consideration is received only after issuance of the completion certificate, when required, or after first occupation, whichever is earlier.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Taxability of under-construction property clarified: land value included unless consideration paid only after completion certificate or occupation.
The amendment clarifies that construction services for a complex, building or part intended for sale are taxable where the amount charged includes the value of land or undivided share of land, except where the entire consideration is received only after issuance of the completion certificate, when required, or after first occupation, whichever is earlier.
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