Danish (CA Job) (36 Points)
01 October 2013I have taken a property on rent and paying the owner ST of INR 12360 per month. I will be leasing out this property to a tenant and receiving ST of INR 37080.
My query is if I can set off The ST paid against that received. In this case, is my liability only 24720 per month?
Sumit Grover
(Chartered Accountant )
(3652 Points)
Replied 01 October 2013
Yes, you can certainly claim CENVAT of the same & pay the liability after netting off.
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