Liable for service tax on rent received from warehouse
This query is : Resolved
06 May 2014
I HAVE LET OUT TWO WAREHOUSE TO APMC COMMITTE FOR RS 2 LAKHS EACH TO STORE MAIZE I WISH TO WHETHER I SHOULD COLLECT SERVICE TAX ON RENT PAID BY APMC COMMITTE APMC STANDS FOR AGRICULTURAL PRODUCE MARKETING COMMITTEE ESTABLISHED UNDER A ACT OF KARNATAKA TO PROCTECT THE INTEREST OF FARMERS. IT MAIN DUTY IS TO PROCURE REGULATE AND STORE AGRICULTURAL COMMIDITY LIKE PADDY MAIZE WHEAT ETC
06 May 2014
Pai can u elaborate what is APMC?
06 May 2014
APMC MEANS AGRICULTURAL PRODUCE MARKETING COMMITTE ESTABLISHED UNDER STATE ACT OF KARNATAKA TO PROTECT INTEREST OF FORMERS IN MARKETING THEIR PRODUCE AND STORE THEIR PRODUCE LIKE PADDY WHEAT MAIZE ETC
07 May 2014
In that case it is covered under negative list hence no need to deduct Service Tax on that amount.
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