deductions
sunilkumar k s (71 Points)
14 June 2018
can I deduct municipal tax in rental income to pay gst
9 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195640 Points)
Replied 14 June 2018
GST is charged over gross receipts, no need of any notification. There is deduction under income tax act, not gst.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195640 Points)
Replied 14 June 2018
Yes, Under the erstwhile Service tax law, Notification No. 29/2012-ST provided exemption to the taxable service of renting an immoval property from so much of service tax leviable thereon u/s 66B, as in excess of service tax calculated on the value which is equivalent to the gross amount charged for renting less the taxes on such property, viz. property tax levied and collected by local bodies.
But there is no such notification under GST regime, except nil gst over residential rent.....
CA Shivam Arora
(Chartered Accountant)
(2414 Points)
Replied 14 June 2018
Not available as per section 15(2)(a)
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