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Pre Deposit - Service on Commercial Or Industrial
Service Tax - pre-deposit - commercial or industrial construction services - Project Development Agreement with Delhi Development Authority for construction of complex – Demand of service tax
HELD - the agreement is based on Public Private Partnership Model providing for joint sharing of risks, efforts, resources and profit/losses. The Board has clarified in the circular F. No. 137/186/2007-CX IV dated 23.2.2009 that transaction between two contract parties on a principal to principal basis cannot be treated as a service in a situation where the pre-determined revenue sharing basis has been agreed upon - the Development Project.