Taxability on lease rental income of the town municipality
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 November 2014
One of my client is a town municipal council given its immovable property namely shops/stalls on lease basis to its customer for the financial 2012-13 and total collection was made Rs.1241030.00 as lease rental income.Please enlighten us how much the service tax is to be paid by my client, what is the exemted portion amount out of the total collections made.
Whether any penalty may impose alongwith service tax?
Whether any penalty may impose alongwith service tax?
Amol S Joglekar
(Expert)
23 November 2014
As per notification 30/2012, reverse charge mechanism comes into play and the service receiver has to pay the service tax...100%
https://www.servicetax.gov.in/notifications/notfns-2012/st30-2012.htm
go to item no 6
https://www.servicetax.gov.in/notifications/notfns-2012/st30-2012.htm
go to item no 6
Rupesh Jain
(Expert)
26 November 2014
service receipent will be pay the tax 100% as asked by mr amol
01 December 2014
agreed with amol's view
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