20 May 2010
i am charging service tax on letout of commercial building....that service tax is output tome and... i paid service tax to one consultant...that is input tome... my doubt is can i setoff that input with myoutput.......i mean is there any specific criteria for set off if input with outpur or we can we can set off the out with input which u get in any type of payment
20 May 2010
dear, U r justified in charging service tax i.e.,letting of immovable property attracts service tax.i.e.,your obligation.
as u paid service tax to consultant it is your input,
u can rightly setoff the tax liability with your service tax credit and pay the balance deficit amount and if there is excess credit, u can carry forward the same.
CAclubindia
