20 March 2013
1) MY CLIENT HAS HOTEL BUSINESS WHICH IS ON RENT ( I.E HE HAS TAKEN THE HOTEL ON RENT) IS RS 1000/- EXEMPTION LIMIT IS APPLICABLE TO HIM OR NOT? 2)IS 60%-40% RULE APPLICABLE TO HIM? 3)CAN HE TAKE CENVAT CREDIT ON PROFESSIONAL FEES AND RENT PAID BY HIM????
21 March 2013
1. Which 1000 Exemption Limit You are talking for ? Services by way of renting of a hotel, inn, guest house, club, campsite or other commercial places meant for residential or lodging purposes, having declared tariff of a room below rupees one thousand per day or equivalent. This is Applicabel to Service provider, But in This Case You are Service receiver. No Exemption is applicable.
CAclubindia
