Applicability of service tax for lease on godown
This query is : Resolved
27 December 2013
we have godown which is given as a lease to a company which stores corn as it's rawmaterial.The company further uses this corn for the production of animal feed on it's own.As a lessor will I get exemption from service tax ?
I also want to know whether it alters essential characteristics or not?
28 December 2013
The leasing service provided by you is covered under Renting of Immovable property.Renting of immovable property is the essential character of the service.You can avail the SSI exemption if the lease rent is below 10 lakhs for the year.
As per Negative list Renting of agricultural machine or vacant land is exempt.Inthis case there is no vacant land but a godown.So service tax liabiity is there.
As per Negative list Renting of agricultural machine or vacant land is exempt.Inthis case there is no vacant land but a godown.So service tax liabiity is there.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Rental income of jointly held property
- LIABILITY ADJUSTMENT
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Banking Related Issue
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
