What are the conditions under which service tax is charged on rent paid? Is there any limit of rent paid above which the service tax is charged?
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Service tax to be charged on rent
Replies (4)
There is no limit over whcih service tax is to be charged for rent. ST would be charged if you are liable under the Finance Act 1994 to pay ST as required under this Act.
Hence ST should be charged on the rnet irrespective of the rental amount but subject to the applicability of the ST to be charged by you.
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IF THE TURNOVER OF THE SERVICE PROVIDER (WHO IS RENTING) IS MORE THAN 10 LAKH. HAVE TO TAKE REGISTRATION WIHT SERVICE TAX AUTHORITY. SERVICE PROVIDER WILL COLLECT AND PAY SERVICE TAX.
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As far as I know as assesse is required to register when the total service provided exceeds 9 lacs. When the total service provided exceeds 10 lacs service tax has to be paid on the total service provided.
DEAR SIR
CAN YOU GIVE ME SIMPLE ADVICE ON SERVICE TAX
I HAVE A PROPRITER SHIP COMPANY WHICH IS REGISTERED IN SERVICE TAX AND HAVE GROSS RECEIPTS FOR MORE THAN 10 LACS AND NET RECEIPTS ABOUT
2-3 LACS
WHICH ARE ADDED TO MY PERSONAL INCOME
I HAVE COMMERCIAL PROPERTY ON RENT FOR Rs 2,30,000 P.A ( ALSO PART OF MY PERSONAL INCOME )
DO I HAVE TO PAY SERVICE TAX ON SAME ( RENTAL INCOME ) @ 10.3 % ( IF YES THEN CAN I RECOVER FROM TENANT )
I HAVE HEARD THAT THERE IS NO SERVIVE TAX TILL 10 LACS OF RENT RECEIVED .
I WILL BE GRATEFUL IF YOU WITH YOUR ESTEEM KNOWLEDGE CAN GIVE SOME COMMENT
THANKING YOU
DHEERAJ SAWHNEY
9311133345
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