ramesh agrawal (business) (179 Points)
07 October 2010I want to give on rent my premises to a private school. The receipts will be above Rs.10 lacs per year. Will service tax be applicable in this case?
karan challani
(article)
(82 Points)
Replied 08 October 2010
THe is a case in the court which says service tax is not to be paid on rent.The case is still pending so it is better to charge service tax.
once ur recipt cross 9 lakh then u have to go for service tax registration.
if the total receipt crosses 10lakh the u have to pay service tax on the balance exceeding 10 lakh.
for the next year u have to charge service tax on the initial amt received i.e from the 1st rupee.
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