Renting of Immovable property

This query is : Resolved

Swapnil (Querist)
Follow

16 August 2010 Renting of immovable property itself is made taxable with retrospective effect from 01.06.2007 through the Finance Act, 2010. Hence, whether interest is to be paid on the amount of service tax payable for the period preceding the amendment. As during the period preceding the amendment, it was not known that the said service is taxable and as such there is no default on the part of assessee.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
Follow

16 August 2010 even after the provisions of Finance Act, 2010, the status is still unclear:

Please refer to the delhi high court stay order : WP(C)3398/2010 # Home Solutions Retails Ltd Vs UOI.

Till the matter is fully decided, nothing can be said with surety.

Swapnil

Swapnil (Querist)
Follow

16 August 2010 But they have made an amendment to the Act itself. So can the SC still give the decision that renting is not service?

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
Follow

16 August 2010 yes.. they can as you can understand from the fact that the stay order have been issued on 18/5/10 (after the budget,2010)

see the basic contention is the very fact that "Renting an immovable property can not construed as rendering of a service" & the whole case is being fought on this very definition. So, just wait till the final say of the judiciary is over.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Richa Bajoria

Pavithra Doss

Dhananjay Patil

Raviraj ponkshe

CA Saurabh Jadhav

Subscribe Now

Renting of Immovable property

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Manager- Finance and Compliance

GST CONSULTANCY

Article Assistant

GST CONSULTANT

CA Final