Liability of service tax on rent income derived from lease premise
Hetalkumar
(Querist) 20 February 2012
This query is : Resolved
Dear Sir/Madam,
Please let me know about the Service Tax Liability upon receipt of over and above limit Rent income received from Lease base premises to a corporate banking. Is it on shoulder of the owenr, statutorily ? How and on what slab the same is required to be mitigate ? Please guide along with some IMP Decision of apex court on the same. Thanking you,
Regards,
Hetalkumar Hindocha
A V Vishal
(Expert) 20 February 2012
Service Tax is an Indirect tax and requires collection from the client/customer by the service provider and paid to the central govt. The responsibility of collection and payment is on the service provider viz.you and you are liable to recovery from the department for short payment/non payment of the same.
Vineet
(Expert) 20 February 2012
Please refer to reply posted on your query in forum discussion.