canvat credit on renting of immovable property

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  1. abhi014

    abhi014 New Member

    the case is of the same property.

    x is a owner

    y registered lessee

    z is a registered sub -lessee

    y pay Rs.30,00,000/- annualy to X as a rent and Rs.4,35,000/- as a service tax

    z pay Rs.60,00,000/- annualy to y as a rent and Rs.8,70,000/- as a service tax

    will y is allowed to take canvat credit on the above case i.e y will pay service tax Rs.4,35,000/-(8,70,000 - 4,35,000/)

    if the above canvat credit is allowed kindly send me the ruling of the same
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