23 December 2010
By the Finance Act 2007, Central Government has extended the levy of service tax on renting of property also with effect from 1.06.2007 , under section 65(105)(zzzz) of the Finance Act 1994. Renting includes letting, leasing, licensing or other similar arrangement. Service tax is payable on the rental amount received less the actual amount of property tax paid.
23 December 2010
This is to inform that Punjab & Haryana High Court in the judgment titled as “Shubh Steels vs Union of India” has upheld the levy of service tax on renting of immovable property with retrospective effect.
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