Service tax on renting of immovable property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 December 2015 our,client being registerd under cooperative society providing the service of renting of its premises to a bank for past two years but service tax is not collecting.

my doubt is,
1.whether service tax applicable in this case, if applicable
2.as we are in middle of for financial year if we payof service tax now,then what about past year tax
3. whether cbec issues notices relating to past years

please suggest better way for payment of service tax

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 December 2015 1 Yes service tax applicable if annual rental receipts exceed 10 lacs.
2 Register now and pay service tax for past years also with interest. For the first year service tax payable on the rent in excess of 10 lacs.
3 Yes CBEC issue notices for past years.

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