SURESH BABU V (SR.MANAGER-FINANCE) (28 Points)
14 August 2014Can service tax paid on rent adjusted against service tax collected on sale of space for advertisement ?
Eg : A Commercial building taken on rent for business for which service tax is paid on rent. in the same bulding , some area is given for advertisement of products. service being collected on sale of space given for advertisement.
in this transaction, can service tax paid on rent adjusted against service tax collected on sale of space?
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 14 August 2014
Yes offcourse , the credit of ST paid on rent can be taken and utilised to pay ST on Advertising services, because here the renting is input service used for providing output service of Advertising....
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 14 August 2014
Gagan Deep Singh
(CHARTERED ACCOUNTANT)
(1190 Points)
Replied 18 August 2014
Since Sale of space for advert. is somwehere connected with rental building hence u can take credit of input service tax on rent.
CAclubindia
