AS per the recent budget of 2010 the renting of immovable property has brought into the ambit of services covered u/s 65(105) of Finance Act, 1994 that to with retrospectively and now as finance bill also passed. Here tenant has no other option then to pay the service tax since June07. here my query is wether we need to pay along with interest or it would be only service tax amount ? pls suggest.
1 Replies
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 21 May 2010
Dear Sir,
The Delhi High Court has again stayed the levy inspite of the amendment.
Two issues were raised earlier one whether renting is a service at all? This was not addressed in the retrospective amendment. Second was that only services in relation to rent wer liable and not rent per se. Thjis was amneded.
One other matter on state/ centre jurisdiction was not examined.
In my view there is no liability.
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