Service Tax Renting of Immovable Property
This query is : Resolved
04 May 2010
Is service tax is applicable on renting of immovable property from April 2010 after amendment in act?
CMA Ramesh Krishnan
(Expert)
04 May 2010
yes.it is applicable
Pankaj Jhawar
(Expert)
05 May 2010
Yes now it is applicable
Shyam Lal Naik
(Expert)
05 May 2010
Unfortunately, the amendment is restrospective w.e.f. 01/06/2007. Hence tax on renting of immovable property is applicable from 01/06/2007 AND NOT FROM APRIL'2010 ONLY.
In indirect taxes, taxes need to be collected from the service receipient and remitted to Govt. Since, the land lord may not be in a position to collect tax for the past period, retrospective amendment is harsh. But, we are used to such unjust action on the part of our legislature.
In indirect taxes, taxes need to be collected from the service receipient and remitted to Govt. Since, the land lord may not be in a position to collect tax for the past period, retrospective amendment is harsh. But, we are used to such unjust action on the part of our legislature.
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