Rent on immovable property property tax claiming

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kavitha (Querist)
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01 August 2012 service tax liability for the first quarter is 73780/-. we failed to pay service tax with in the due date. my question is i have paid property tax of 76000/- on 31.07.2012 for the first quarter. can i claim property tax now and need not pay service tax??

VIPUL SHAH

VIPUL SHAH (Expert)
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03 August 2012 Fisrt property tax needs to be reduced from service income and not from S.T.Liability

Second in case you have collected / charged service tax on full value, then you will have to pay full

Formula for charging S.T.is

Gross amt less property tax paid = net amount * S.T.rate

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