suresh (accountS ) (158 Points)
02 October 2011do we get set off for service tax levied by the ventors in rent bills payable by us.
for eg: i received rent bill which includes service tax amt of Rs-824.00 . will i get any benefir of this at the time of service tax payable by our company.if yes the pls explain
and also from were i will get service tax rate slab for the F.Y-2011-12.
Rohit Pithisaria
(Proprietor)
(36 Points)
Replied 02 October 2011
Yes u can claim set off of service tax paid on rent bills.
kanagaraj
(CHARTERED ACCOUNTANT)
(793 Points)
Replied 02 October 2011
Dear Suresh,
you may set off any tax paid by you, provided that service must be related to your business only. Suppose if you pay the rent for your house that will not set off. Regarding slab the rate of tax is only one that is 10%. for compounding it is 4%.
regards
CAclubindia
