23 May 2008
Dear all, One of my client has provided land on rent for the purpose of petrol pump. All the structure of petrol pump was built up by them only. Whether rent collected by my client is covered under service tax? As per finance Act, immovable property does not include vacant land. In this case can we consider land given on rent to petrol pump as a vacant land?
where do u see vacant land not included in definition of immovable property. i checked in i.t act. there explanation to sec 2(47) refers to sec 269UA(d) which includes land in immovable property. no reference is there for vacant or occupied.
so, i believe service tax is applicable on ur client.
03 June 2008
Dear all, One of my client has provided land on rent for the purpose of petrol pump. All the structure of petrol pump was built up by them only. Whether rent collected by my client is covered under service tax? As per finance Act, immovable property does not include vacant land. In this case can we consider land given on rent to petrol pump as a vacant land?
CAclubindia
