Present scenario.
Company A (Government company) has leased out bulding to Company B on a rent of RS. 100000/- (no Service Tax is charged by Co. A. Company B in turn sublease the property entirely to Company X on a rent of Rs. 100000/- ( No Service tax is charged by Co. B till now.)
Question.
1. Is service tax is applicable on this transaction? If yes, can Company X can avail Cenvat credit on the service tax paid on lease rent?
2.What is the % of service tax? Any abatement is there on lease rent? Expecting the reply at the earliest
CAclubindia
