Service tax on renting of immovable property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 March 2012
Sir,
I am on verge of landing my commercial property on rental basis & the same would be for commercial use.
I have heard that presently there is a stay on collection of service tax on rent. Could you guide me that should I levy the said tax on the assesse. If not & in future the verdict is in favor of centre, In this event what is to be done.
I am on verge of landing my commercial property on rental basis & the same would be for commercial use.
I have heard that presently there is a stay on collection of service tax on rent. Could you guide me that should I levy the said tax on the assesse. If not & in future the verdict is in favor of centre, In this event what is to be done.
02 March 2012
Service tax is to be levied only if your gross receipts exceed Rs. 10 lakhs.
08 April 2012
No there is no stay on ST collection. If your TO as mentioned exceeds then you are liable to collect and pay it
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