I m working in Silver Jewellery Manufacturing Co. and our company hired (Rent) no. of showroom in Shoping Mall for sale.
and we also pay RENT(Service Tax Included) to Pantaloon,TRENT, and many of companies.
Secondly we have also own showroom in Malls and we also given for Rent and we raise Rent Bill to party & Service Tax Charge in Bill and Further Pay to service tax.
So MY QUERRY IS Can we sett off service tax pay against Service TAx PAyable ??
26 March 2010
Yes you can execept this two case 1. ensure that above mentioned parties is not depositing service tax under 11(d) or confirm from their rent bills what they have mentioned while collecting service tax
2. You should have valid registration under renting of immovable property with service tax department.
other wise you can take set off. Regards Pragnesh
Querist :
Anonymous
Querist :
Anonymous
(Querist)
26 March 2010
THnx for Earler Reply Pragnesh sir
yes we have valid S.TAx Reg. No. under Rent And we also paid to Rent (Including Service Tax) Apr 09 to Mar 10 then can be set off with Payble service tax ??
I also confirm in this connection other C.A. then he say you can not sett off because your nature of income is Production Of Silver Jewellery and this is a Rent income so tis income not linkup wit your business so u can`t set off with service tax payable
yes we have valid S.TAx Reg. No. under Rent And we also paid to Rent (Including Service Tax) Apr 09 to Mar 10 then can be set off with Payble service tax ??
I also confirm in this connection other C.A. then he say you can not sett off because your nature of income is Production Of Silver Jewellery and this is a Rent income so tis income not linkup wit your business so u can`t set off with service tax payable
CAclubindia
