I have inadvertently registered with Service Tax dept during Jan 15, estimating my Gross Rental Income (Basic Amount with out Service tax) will exceed - Rs. 10 Lacs by March 2015.
But actually when I now calculate, the rent (Basic Amt) will not cross Rs.9.50 Lacs, till March 15 (including March 15 Rent Receivable in April 15).
Till now I have not charged even a single paise towards service Tax to my tenant. . This is my first year of operation.
Since, now I have registered with Service Tax is it necessary to charge ST on the Rent so far collected & to be paid even if it is below - Rs. 10 Lacs (or) Can I file this year Nil return.
My tenant is also not willing to pay the service tax for this year, because the total amount of rent of this year will not cross Rs.10 Lacs.
Pl guide me
CAclubindia
