sir/madam
we have recd rent from canara bank , and they not paying service tax to us, but we pay service tax on behalf rent recd from bank
1) can we deemanding service tax from bank
2) is that ok to pay service tax not recd by bank?
3) have any intimation service tax exption rent from bank ?
Rent on Commercial Property are liable to pay service tax. In your case you can charge service tax seprately on Monthly basis by raising Invoice by every month. If bank not willing to pay the service tax , you have to pay service tax from your own pocket.
Regards
Pankaj Kannaujiya
Reverse charge mechanism is not applicable for renting of immovable property by Individual to Corporate. Service Provider, be it individual,HUF,Firm,Company has to discharge the service tax liability.
If the tax is not collected, then the provider can pay cum-tax basis, I.e. the amount of rental income considered to be inclusive of service tax and accordingly tax would be payable.
CAclubindia
