Small scale service provider

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Money Arora (Querist)
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26 May 2014 An assessee has given a building on lease to a bank. Annual rent is rs. 9,50,000 inclusive of service tax according to lease agreement. This is the first year of lease. Assessee is a first time service provider and has registered himself in this financial year only. Whether the assessee will have to deposit service tax on inclusive value of rs. 9.5 lacs or he can claim small scale service provider exemtion for current financial year?

CA DEEPAK S K

CA DEEPAK S K (Expert)
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26 May 2014 The exemption can be claimed provided he has not collected ST or as per documents if it reflects that ST is collected then same has to Paid to government irrespective of exemption.

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