Service tax on rent of immovable property
This query is : Resolved
05 August 2015
if an individual is collecting rent on immovable property...
the receipt from such rent will exceed rs 10 lacs during the fy 2015-16. how will be the service tax liability?
whether he is liable to collect and pay ST from 1st Qtr or he will be liable for collection and payment after such receipt exceeds 10 lacs?
Eg Receipt from rent for FY 15-16 is 1030000
on how much amt he is liable to pay and collect ST
the receipt from such rent will exceed rs 10 lacs during the fy 2015-16. how will be the service tax liability?
whether he is liable to collect and pay ST from 1st Qtr or he will be liable for collection and payment after such receipt exceeds 10 lacs?
Eg Receipt from rent for FY 15-16 is 1030000
on how much amt he is liable to pay and collect ST
05 August 2015
He can start charging the service tax as per the agreement between the landlord and tenant.
He can avail the BASIC exemption for the first year ONLY. So he can start paying service tax once the thresh hold limit is over.
He can avail the BASIC exemption for the first year ONLY. So he can start paying service tax once the thresh hold limit is over.
05 August 2015
actually the case is like...
from april to june collected rent without ST ... bt from july we used to collect ST on rent..bt as receipt is below 9 lacs, no registration upto july..
now even though recipt is below 9 lacs and we collected st ...we took registration..(registration after collection of st).....
will it attract any penalty for collection of st before registration
from april to june collected rent without ST ... bt from july we used to collect ST on rent..bt as receipt is below 9 lacs, no registration upto july..
now even though recipt is below 9 lacs and we collected st ...we took registration..(registration after collection of st).....
will it attract any penalty for collection of st before registration
06 August 2015
01. No, it wont attract any penalty.
02. The ST collected should be paid to GOVT whether you were registered under service tax or not.
02. The ST collected should be paid to GOVT whether you were registered under service tax or not.
Message likes :
1 times
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
- TAN for Partnership
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- 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
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
