service tax
This query is : Resolved
30 April 2010
dear sir,
during the audit in a company i found the company received the bill of rent in which service tax charged by the lessor, but the company debited only basic amount in the books and no entry made for service tax (also input not taken), and payment made only basic amount, so it is possible
what is consequences of both the parties
during the audit in a company i found the company received the bill of rent in which service tax charged by the lessor, but the company debited only basic amount in the books and no entry made for service tax (also input not taken), and payment made only basic amount, so it is possible
what is consequences of both the parties
30 April 2010
It is a matter of contractual agreement between the landlord and the tenant.
After the Delhi High Court's judgment in Home Soultions Retail India ltd., many a tenants have stopped payment of Service Tax on Rent.
The only consequence will be on the landlord. The basic amount shall be treated as cum tax in his hand and tax liability shall be discharged accordingly.
It may be stated that, the proposal in Finance Bill in respect of Renting Services has overrulled the High Courts's judgment(supra).
After the Delhi High Court's judgment in Home Soultions Retail India ltd., many a tenants have stopped payment of Service Tax on Rent.
The only consequence will be on the landlord. The basic amount shall be treated as cum tax in his hand and tax liability shall be discharged accordingly.
It may be stated that, the proposal in Finance Bill in respect of Renting Services has overrulled the High Courts's judgment(supra).
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Bank Accounts in Balance Sheet for ITR 3
- Form 10BD Filling
- TDS ON CASH WITHDRAWALS...
- Pan Card apply for Self help group
- Reporting of STCG on Property in ITR
- Error while filling exam form November 2026
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
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
