The urban development ministry will seek a review of the proposed service tax levy on sale of housing projects under construction. The levy has been proposed in Budget 2010-11.
“The urban development ministry feels the proposal of service tax needs review. I am recommending the review of the proposal,” Urban development minister Jaipal Reddy told [...]

Home buyers and property developers need not worry about being levied a service tax if they cannot procure a completion certificate from the local authority. The government could allow some independent authority to certify that the property is complete.