https://www.taxtmi.com/news?id=2269 Service tax applies to letting or leasing of immovable property for commercial purposes because such transactions involve an element of value addition and thus an element of service; the levy targets the activity and not the land or building, placing it outside the State list entry and within the residuary Union entry. Parliament may validly enact retrospective amendments to cure deficiencies identified by prior judicial decisions and validate prior imposition of tax and penalties under the amended provision. en-us Fri, 23 Sep 2011 16:36:26 +0530 Fri, 22 Aug 2025 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=2269 Service tax applies to letting or leasing of immovable property for commercial purposes because such transactions involve an element of value addition and thus an element of service; the levy targets the activity and not the land or building, placing it outside the State list entry and within the residuary Union entry. Parliament may validly enact retrospective amendments to cure deficiencies identified by prior judicial decisions and validate prior imposition of tax and penalties under the amended provision. News - Fri, 23 Sep 2011 16:36:26 +0530 https://www.taxtmi.com/news?id=2269