service tax is applicable for "factory rent"?
This query is : Resolved
26 March 2008
Sir,
Whether Factory rent is covered under service tax and what is the % of tax and from which date onwards it is implemented?
whether require any registration for paying that?
Whether Factory rent is covered under service tax and what is the % of tax and from which date onwards it is implemented?
whether require any registration for paying that?
26 March 2008
It appears that you are in receipt of rent.
It is covered under renting of immovable property service.
12.36%(Service Tax 12% + Primary Education Cess 2% + Secondary & Higher Education Cess 3%).
Taxable wef. 01/06/2007.
You need to take registration.
It is covered under renting of immovable property service.
12.36%(Service Tax 12% + Primary Education Cess 2% + Secondary & Higher Education Cess 3%).
Taxable wef. 01/06/2007.
You need to take registration.
26 March 2008
RENTING OF COMMERCIAL IMMOVABLE PROPERTY IS BROUGHT UNDER PURVIEW OF SERVICE TAX WEF 01-06-2007 @12.36%(INCL. EDU.CESS).
THE SERVICE PROVIDER WHO RENTS THE PROPERTY SHOULD HAVE A REGISTRATION UNDER SERVICE TAX ( GOVERNING DEPT. IS CENTRAL EXCISE DEPT.).
THE EXEMPTION LIMIT AS OF NOW IS RS. EIGHT LAKHS PER ANNUM AND THRESHOLD LIMIT FOR REGISTRATION IS RS. SEVEN LAKHS.
WEF 01-04-2008 THE EXEMPTION LIMIT UNDER SERV. TAX ACT IS RS. TEN LAKHS P.A.
THE SERVICE PROVIDER SHOULD NOT ONLY REGISTER UNDER SERV. TAX ACT BUT ALSO NEEDS TO DEPOSIT THE SERV. TAX COLLECTED WITHIN TIME LIMIT AND ALSO HAS TO FILE HALFYEARLY RETURNS.
R.V.RAO
THE SERVICE PROVIDER WHO RENTS THE PROPERTY SHOULD HAVE A REGISTRATION UNDER SERVICE TAX ( GOVERNING DEPT. IS CENTRAL EXCISE DEPT.).
THE EXEMPTION LIMIT AS OF NOW IS RS. EIGHT LAKHS PER ANNUM AND THRESHOLD LIMIT FOR REGISTRATION IS RS. SEVEN LAKHS.
WEF 01-04-2008 THE EXEMPTION LIMIT UNDER SERV. TAX ACT IS RS. TEN LAKHS P.A.
THE SERVICE PROVIDER SHOULD NOT ONLY REGISTER UNDER SERV. TAX ACT BUT ALSO NEEDS TO DEPOSIT THE SERV. TAX COLLECTED WITHIN TIME LIMIT AND ALSO HAS TO FILE HALFYEARLY RETURNS.
R.V.RAO
26 March 2008
Yes it is applicable rate is 12.36%
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
- STCG....................................................
- Supply through E-commerce Operators
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- TAN for Partnership
- Sales return eway bill
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- E way bill for tractors
- REGARDING GST LIABILITY/....
- Specified Profession
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Plot of land. Cost of Acquisition
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
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
