https://www.taxtmi.com/article/detailed?id=6694 Agreements where landowners transfer land or development rights to developers in return for flats are treated as transactions between separate persons, not joint ventures, unless risks and rewards are shared. The developer's construction service to the landowner is taxable; valuation must follow the Service Tax (Determination of Value) Rules and Board Circular-using gross amount charged for similar services or, if not available, the market value of land or similar flats-subject to a floor of construction cost. Point of taxation is the earlier of receipt of consideration, completion of service, or invoice, with administrative guidance pointing to transfer of development rights or transfer of possession/right as triggering liability. en-us Thu, 18 Feb 2016 09:47:37 +0530 Thu, 18 Feb 2016 09:47:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6694 Agreements where landowners transfer land or development rights to developers in return for flats are treated as transactions between separate persons, not joint ventures, unless risks and rewards are shared. The developer's construction service to the landowner is taxable; valuation must follow the Service Tax (Determination of Value) Rules and Board Circular-using gross amount charged for similar services or, if not available, the market value of land or similar flats-subject to a floor of construction cost. Point of taxation is the earlier of receipt of consideration, completion of service, or invoice, with administrative guidance pointing to transfer of development rights or transfer of possession/right as triggering liability. Articles Service Tax Thu, 18 Feb 2016 09:47:37 +0530 https://www.taxtmi.com/article/detailed?id=6694