Amendment in the Notification No.26/2012-Service Tax, dated the 20th June, 2012 of abatement has been made vide notification no. 9/2013 dated 8th may 2013 in case of construction services by lowering down the abatement percentage to 70% in the case of
(A) COMMERCIAL UNITS, (B) RESIDENTIAL UNITS HAVING CARPET AREA 2,000 SO. FT. OR MORE & (C) RESIDENTIAL UNITS PRICED RS. 1 CRORE OR MORE.
In the said notification, in the TABLE, for serial number 12 and the entries relating thereto, the following serial number and the entries shall be substituted,namely:-
| "12. | Construction of a complex, building, civil structure or a part thereof, intended for a sale to a buyer, wholly or partly, except where entire consideration is received after issuance of completion certificate by the competent authority,- | (i) CENVAT credit on inputs used for providing the taxable service has not been taken under the provisions of the CENVAT Credit Rules, 2004; | ||
| (a) for a residential unit satisfying both the following conditions, namely:– | 25 | (ii) The value of land is included in the amount charged from the service receiver." | ||
| (i) the carpet area of the unit is less than 2000 square feet; and | ||||
| (ii) the amount charged for the unit is less than rupees one crore; | ||||
| (b) for other than the (a) above. | 30 |
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