Reversal of service tax credit

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hemal (Querist)
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18 June 2009 Service tax on property given for rent is req. to be reversed or not , plz give details or site for this details.
thanking u sir in anticipation

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
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18 June 2009 If you have paid the servic etax on rental and aviled the credit for your manufacture/ service provision there is no need today to reverse the same.
Even if it is held that the ST on IP is ultravires the law then also there wouldbe no need to reverse the credit availed as at that time there was no such decision. After the date of decision that wouldbe the law., As on today the matter is before the SC.

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