Whether service tax applicable?

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Dhara (Querist)
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27 May 2008 firm has made an agreement naming "CONDUCTING AGREEMNT"

firm 1 has sold property to firm 2 for business purpose only,
in which firm 2 is paying to firm 1 fixed monthly amount [say more than 8.5 lac per month]
the condition is that either pay this fixed amount or fixed percentage of sale [say 5% of sale]
that means either fixed amount of rs. 8.5 lac or 5% of sales whichever is higher.
that fixed amount is called conducting fees.
My question is whether service tax is liable? payable?
if yes then under which category?

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
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27 May 2008 you are given property on lease but aggrement is different you are liable to service tax if gross receipt is greater than rs 10 lakhs

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