Service tax on renting of immovable property

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  1. v brahmaiah

    v brahmaiah New Member

    Dear sirs,

    During one financial year the rents received more than Rs.10 lacs. Availed threshold limit of Rs.10 lacs and collected the ST on the rent collected in excess of Rs.10 lacs till 31.03.2014. In the subsequent year i.e. 2014-15 the premises was vacant more than 330 days and the total rent collection is about 3 lacs. Now w.e.f.1st april, 2016 premises was let out and lease rentals proposed to be received will be more than Rs.10 lacs. Query is "can we avail the threshold of Rs.10 lacs for the FY 2016-17?
  2. Yashveer Jain

    Yashveer Jain Member

    the aggregate value of taxable services rendered by a provider of taxable service from one or more premises, does not exceed ten lakh rupees in the preceding financial year.

    since it is 3 lakhs you can claim the threshold limit

    [email protected]
  3. v brahmaiah

    v brahmaiah New Member

    Thank you Mr.Yashveer.
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