Renting of factory to joint venture is a taxable service, not profit-sharing; service tax, interest, and penalties apply.

Renting of factory to joint venture is a taxable service, not profit-sharing; service tax, interest, and penalties apply. https://www.taxtmi.com/highlights?id=47609 Valuation - Renting of Immovable Property Service - renting the factory with plant and machinery to JV - The transaction is not in the nature of sharing of profit with JV partners - Liable to service tax - Demand confirmed with interest and penalty. en-us Mon, 01 Jul 2019 07:27:22 +0530 Mon, 01 Jul 2019 07:27:22 +0530 TaxTMI RSS Generator Renting of factory to joint venture is a taxable service, not profit-sharing; service tax, interest, and penalties apply. https://www.taxtmi.com/highlights?id=47609 Valuation - Renting of Immovable Property Service - renting the factory with plant and machinery to JV - The transaction is not in the nature of sharing of profit with JV partners - Liable to service tax - Demand confirmed with interest and penalty. Highlights Service Tax Mon, 01 Jul 2019 07:27:22 +0530 https://www.taxtmi.com/highlights?id=47609