Input from share trading against immovable tax output
This query is : Resolved
Antony Raj
(Querist)
01 March 2014
Dear Experts,
Please clarify the following case:-
We are receiving rent on some immovable properties, for that we are charging Service Tax also. usually we collect the ST and the same will be paid to the GOVT.
We do some share trading also. for that we are paying the ST to the Broker.
Now my query is that, can we adjust the ST input received from the share broker with the output of ST on the rent.
Kindly clarify.
With advance thanks to all.
ANTONY RAJ- Bangalore
Please clarify the following case:-
We are receiving rent on some immovable properties, for that we are charging Service Tax also. usually we collect the ST and the same will be paid to the GOVT.
We do some share trading also. for that we are paying the ST to the Broker.
Now my query is that, can we adjust the ST input received from the share broker with the output of ST on the rent.
Kindly clarify.
With advance thanks to all.
ANTONY RAJ- Bangalore
CA Hardik Bunha
(Expert)
01 March 2014
No this type of credit is not allowable.
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