effective date for renting of vacat land

[sv bhasker]

Retrospective legislation was brought in through Section 76 of the Finace Act 2010 in respect of renting of immovable property service from 1.6.2007. Through the same Section, explanation to immovable property was expanded by inserting  clause(v) by including vacant land for commercial purposes in near future. What is the effective date for renting of vacant land for commercila purpose. Is it 1.6.2007 or 1.7.2010? Pl reply with suitable  basis

AI Summary

Debate on Service Tax for Renting Vacant Land: Effective Date Clarified as July 1, 2010, Under Section 76 Finance Act 2010. A discussion on a forum addresses the effective date for service tax on renting vacant land for commercial purposes. The query highlights the retrospective legislation introduced by Section 76 of the Finance Act 2010, which expanded the definition of immovable property to include vacant land. Contributors debate whether the effective date is June 1, 2007, or July 1, 2010. One participant clarifies that the effective date is July 1, 2010, citing the Finance Act 2010 and specific legal references to support this interpretation. Another participant requests further authority to substantiate this effective date.