Service tax on rent received from building and machinery
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 November 2012
One of my client established some plant and machinery under a pvt ltd company. After this my client rent out all the plant and machinery with land. Monthly rent agreed for Rs. 5.00 lac. Please guide me what is the liabilities under service tax act. [Registration and payment of service tax.]
Thanking You.
Regards
Mukesh Khnadelwal
Discovery
Poonia Complex, Chirawa
9828242065
Thanking You.
Regards
Mukesh Khnadelwal
Discovery
Poonia Complex, Chirawa
9828242065
CA Sahil Singla..
(Expert)
07 November 2012
Sir
You are liable to register as soon as your turnover exceeds 9 lac. So, it is advised to register ASAP
You are liable to charge service tax from rent of 3rd month. i.e. after exemption of Rs. 10 lac. In case ur client is Proprietor or partnership firm, pay tax Quaterly by 5th of next month, otherwise pay monthly by 5th of next month
You are liable to register as soon as your turnover exceeds 9 lac. So, it is advised to register ASAP
You are liable to charge service tax from rent of 3rd month. i.e. after exemption of Rs. 10 lac. In case ur client is Proprietor or partnership firm, pay tax Quaterly by 5th of next month, otherwise pay monthly by 5th of next month
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