https://www.taxtmi.com/article/detailed?id=1111 The note contends that receipts like rent, interest and royalties are unearned income arising without any service or value addition and thus fall outside the proper scope of service tax. It contrasts earned charges for active services with passive returns on capital, notes statutory exclusions (interest) and abatements (leasing), and argues that commercial rent valuation must allow substantial abatement for return on capital, wear and tear, and statutory levies rather than treating the whole rent as taxable service value. en-us Mon, 31 Jan 2011 08:04:35 +0530 Mon, 31 Jan 2011 08:04:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1111 The note contends that receipts like rent, interest and royalties are unearned income arising without any service or value addition and thus fall outside the proper scope of service tax. It contrasts earned charges for active services with passive returns on capital, notes statutory exclusions (interest) and abatements (leasing), and argues that commercial rent valuation must allow substantial abatement for return on capital, wear and tear, and statutory levies rather than treating the whole rent as taxable service value. Articles Service Tax Mon, 31 Jan 2011 08:04:35 +0530 https://www.taxtmi.com/article/detailed?id=1111