Rent for storage of premises

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2011 what is limit on which service tax is not applicable?
what is the current rate of service tax?

if s.t. is beared by liscensee, can this claim as deduction under PGBP?

Yogesh Agarwal

Yogesh Agarwal (Expert)
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26 December 2011 The thresold limit is 10Lacs. The rate of service tax is @10% which will be increased with Education and Secondary and higher secondary education cess @2% and @1% respectively.. Effective rate would be 10.3%.

If licensee does not take the benefit of cenvat of input service tax then that can be claimed as deduction under PGBP..