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Service tax
Mr.A. has received Commercial Rental Income of Rs.15 lakhs for the year 2013-14 with Service Tax amount and Next Year, due to Vacant of two property his rental income decreased to Rs.9,00,000/- But, Service Tax received from his tenant and next year also same is continued.
Now I have a doubt about during the 2016-17, Is service Tax is applicable because of last year Rental is received is below Rs.10 lakhs.
Replies (1)
As per Notfn No. 33/2012-S.T [Para 2(viii)] exempts taxable services of aggregate value not exceeding ten lakh rupees in any financial year from the whole of the service tax leviable thereon subject to condition that - the aggregate value of taxable services rendered by a provider of taxable service from one or more premises, does not exceed ten lakh rupees in the preceding financial year.
If the taxable value for 2015-16 is less than Rs. 10 lakhs then exemption from service tax can be availed in 2016-17 upto Rs. 10 lakhs.
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