We have registered under Service Tax Act under category as Renting Immovable Property.
We had issued service tax Invoice with service tax against rent receivable from our tenants.
Since we are proprietory concern can we take input service tax credit such as professional service
rendered by our consultants,etc.
Can we adjusted that input credit against our service tax payable on Rent receivable from tenants.
Pl. advice us.
Proprietorship Questions Eligibility for Input Service Tax Credit on Professional Services for Renting Property A proprietorship registered under the Service Tax Act for renting immovable property inquires about the eligibility to claim input service tax credit for professional services rendered by consultants. The question is whether this input credit can be offset against the service tax payable on rent received from tenants. One respondent seeks clarification on the specific services rendered, while another confirms that input credit is permissible if the services are directly related to the renting of immovable property. (AI Summary)
TaxTMI 
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