What will be the value of property at the time of execution of conveyance deed i.e. whether it will include ST payable by the buyer?
Liability to Stamp duty is governed by local laws. Whether value of the property will include ST payable or not will depend on specific clauses of the local laws in this respect. Miscellaneous Issues 19.0 What will happen in the cases wherein total consideration has already been agreed upon between the buyer and the builder but certain instalments are yet to be paid as on 1-7-2010. Whether payments thereafter will be subject to tax? If so, who should bear the tax on such payments? Let us understand certain basic issues under the ST. 1) It is the liability of the service provider to pay the tax. 2) Whether to collect the said tax from the SR or not is a commercial decision. The law nowhere lay down that the SP should collect the tax from the buyer. If the SP so whishes, he can bear the tax and the SR need not pay it. In the eventuality of SP bearing the tax, reverse working will have to be made and element of ST will have to be removed from the total consideration. 3) The statutory prov
