https://www.taxtmi.com/forum/issue?id=116614 Where a construction contract transfers property in goods, that transfer is treated as a deemed sale and the remainder as service; if the value of goods is ascertainable and reflected in tax records, that value may be used to claim abatement from the gross contract consideration rather than applying a presumptive split. The extended limitation period is not appropriate where the relevant facts were disclosed on statutory records and the demand stems from an audit objection, and the taxpayer may elect the valuation option based on segregated consideration for goods and services. en-us Mon, 10 Aug 2020 17:19:17 +0530 Thu, 23 Jan 2025 15:54:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116614 Where a construction contract transfers property in goods, that transfer is treated as a deemed sale and the remainder as service; if the value of goods is ascertainable and reflected in tax records, that value may be used to claim abatement from the gross contract consideration rather than applying a presumptive split. The extended limitation period is not appropriate where the relevant facts were disclosed on statutory records and the demand stems from an audit objection, and the taxpayer may elect the valuation option based on segregated consideration for goods and services. Discussion-Forum Service Tax Mon, 10 Aug 2020 17:19:17 +0530 https://www.taxtmi.com/forum/issue?id=116614