Service tax on Renting of Immovable Property
This query is : Resolved
CA Suresh Choudhary
(Querist)
05 August 2010
As per Delhi High Court rent on Immovable property held unconstitutional so we can not collect the Service tax from the tenant.
Later on in the Finance Bill the definition of Renting is amended and Immovable property renting is included in the Service tax net retrospectively from 1.6.2007.
So as of Now what is the status on Renting of Immovable Property as far as Service Tax is concerned?
Do we have to collect the Service and pay to the Government?
Can any body guide me on this matter.
Thanks in Advance
Later on in the Finance Bill the definition of Renting is amended and Immovable property renting is included in the Service tax net retrospectively from 1.6.2007.
So as of Now what is the status on Renting of Immovable Property as far as Service Tax is concerned?
Do we have to collect the Service and pay to the Government?
Can any body guide me on this matter.
Thanks in Advance
CA Shishir
(Expert)
05 August 2010
Yes service tax is to be collected from the tenants on House Property rents received. The same it to be remitted to the Government
CA Sanat Pyne
(Expert)
05 August 2010
agreed
VINOD ARORA
(Expert)
05 August 2010
Yes, to avoid unnecessary complications, service tax should be collected and deposited in due course as per law. The lessee has to honour the law. ALso, he may easily avail input credit of the amount of service tax so paid against output service tax liability of tenant, if any.
05 August 2010
The amended provisions is also challenged and now the matter is under sub judice of Supreme court.
CA Suresh Choudhary
(Querist)
16 December 2010
What is the update in this Matter
16 December 2010
Paper reports says supreme court is expected to take up the case in this month.
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