Service tax input credit - renting of immovable property
This query is : Resolved
Rajagopal K
(Querist)
12 July 2016
Machinery Owned by "A Pvt Ltd"
Building Owned by "X INDL"
Lease to "X Pvt Ltd" by "A Pvt Ltd" & X INDL
Rent Payable to "A Pvt Ltd" by "X Pvt Ltd"
Rent Payable to "X INDL" by "X Pvt Ltd"
Sub Lease to "Z Ltd" by "X Pvt Ltd"
Rent Payable to "X Pvt Ltd" by "Z Pvt Ltd"
FOR LEASE
"A Pvt Ltd" raising Rent Invoice including Service Tax to "X Pvt Ltd"
"X Indl" raising Rent Invoice including Service Tax to "X Pvt Ltd"
FOR SUB LEASE
"X Pvt Ltd" raising Rent Invoice including Service Tax to "Z Pvt Ltd"
Question:-
Whether Service tax on rent received from "Z Pvt Ltd" will be set-off against Service tax on Rent paid to "A Pvt Ltd" and "X Indl" or not?
Building Owned by "X INDL"
Lease to "X Pvt Ltd" by "A Pvt Ltd" & X INDL
Rent Payable to "A Pvt Ltd" by "X Pvt Ltd"
Rent Payable to "X INDL" by "X Pvt Ltd"
Sub Lease to "Z Ltd" by "X Pvt Ltd"
Rent Payable to "X Pvt Ltd" by "Z Pvt Ltd"
FOR LEASE
"A Pvt Ltd" raising Rent Invoice including Service Tax to "X Pvt Ltd"
"X Indl" raising Rent Invoice including Service Tax to "X Pvt Ltd"
FOR SUB LEASE
"X Pvt Ltd" raising Rent Invoice including Service Tax to "Z Pvt Ltd"
Question:-
Whether Service tax on rent received from "Z Pvt Ltd" will be set-off against Service tax on Rent paid to "A Pvt Ltd" and "X Indl" or not?
CA R SEETHARAMAN
(Expert)
12 July 2016
Yes it can be set off in case both of the assets are sub let.
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