X&Y are Co-owners of a building receiving Rent of Rs.75000+7500 per month each for First and second floor of the Building respectively. What is the Service Tax Applicability in this case. Is there any exemption under SSP.
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Service tax
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If it is let out for residential purpose, it will be covered in negative list. If let out for commercial purpose, SSI exemption can be claimed for fist consequitive invoices if service tax is not collected from tenant. If collected, it has to be paid.
The answer may change upon the exact facts of the issue.
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