Service tax on Rent

service tax

dear friend, credit can be utilised on paid basis. no adjustment regarding municipal tax, lease tax .

you can adjust/deduct the property tax paid for the period yiou are paying ST. Ie from PT paid from 01.06.2007

(1) There is no specific provision for availment/non-availment of CENVAT credit on services of rent. As long as Inpout serrvice is used for taxable output serices, you are elligible to avail CENVAT credit. (2) As per Noti.No.24/2007-ST dt.22/05/07, property tax need not be added to the value for the purpose of making payment of services of Rent.Notification also provides an example how to adjust, Property tax, while Calculating Taxable Serrvice of Rent, when lump sump or periodical property tax is paid. The said Notification is available in net.