sir,
I have rented my shop for bank ATM, Now the bank pay me rent along with sevice tax, am I liable to pay it even it is below my turnover 10 lakhs?, Please clairify.
I
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Service tax
Replies (1)
If service tax is paid by bank to you and your turnover is below the limit then you are liable to pay service tax. Subsection 2 of section 73A prescribe below:
"Where any person who has collected any amount, which is not required to be collected, from any other person, in any manner as representing service tax, such person shall forthwith pay the amount so collected to the credit of the Central Government."
so pay the amount as soon as possible.
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