X&Y are Co-owners of a building receiving Rent of Rs.75000+7500 per month each for First and second floor of the Building respectively. What is the Service Tax Applicability in this case. Is there any exemption under SSP.
Rajeev (Assistant Manager & CA Final) (83 Points)
02 July 2015X&Y are Co-owners of a building receiving Rent of Rs.75000+7500 per month each for First and second floor of the Building respectively. What is the Service Tax Applicability in this case. Is there any exemption under SSP.
CA Shyam Makwana
(Practice)
(87 Points)
Replied 02 July 2015
If it is let out for residential purpose, it will be covered in negative list. If let out for commercial purpose, SSI exemption can be claimed for fist consequitive invoices if service tax is not collected from tenant. If collected, it has to be paid.
The answer may change upon the exact facts of the issue.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
