Notification 29/2012
This query is : Resolved
16 August 2013
Request you to go through Service Tax Notification No: 29/2012 and clarify the following points.
1.What exactly the impact of this Notification.
2.We have certain properties which we have given on rentals and we have been receiving rents along with Service Tax. Whatever Service Tax that we are collecting the same is been remitted back to the Government without claiming any benefit or exemption on Property Tax which we pay on these properties.Now how we can avail benefit & Which value given in ST-3 Return.
1.What exactly the impact of this Notification.
2.We have certain properties which we have given on rentals and we have been receiving rents along with Service Tax. Whatever Service Tax that we are collecting the same is been remitted back to the Government without claiming any benefit or exemption on Property Tax which we pay on these properties.Now how we can avail benefit & Which value given in ST-3 Return.
16 August 2013
Since you have already collected the tax on the value of service without adjusting property tax paid/payable by you, you need to pay the amount collected by you. For future, you charges the service tax from your tenant on the amount of monthly rent minus annual property tax payable divided by 12.
disclaimer- all answers are given as per the facts narrated by you. Answer may differ after study of full facts/statements/agreements etc. involved in the case
disclaimer- all answers are given as per the facts narrated by you. Answer may differ after study of full facts/statements/agreements etc. involved in the case
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17 August 2013
Thanks a lot......................
17 August 2013
what amount of taxable value to be given in Return..?
First for earlier case &
Second value with net of property tax
First for earlier case &
Second value with net of property tax
17 August 2013
Net of property tax to be shown in return
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