What should be the amount of service tax payable on rent if the amount of rent is beyond exemption limit ? ?

The exemption limit of service tax in a financial year is decided by Government of India during Budget presentation. Now, for the present financial year the exemption limit in force is Rs10.00 Lakhs. If the turn over of the service provider exceeds Rs 8.00 Lakhs, invariably, should apply for Registration immediately. After exceeding the turnover of Rs 10.00 Lakhs, for every one rupee the service provider should collect the Service tax and remit to the Government. From the subsequent year the exemption limit donot apply and has to collect service tax from the first rupee onwards and remit to the Governemnt. If the turnover doesnot exceed the exemption limit specified, the service provider need not collect service tax in the subsequent year till he exceeds the exemption limit as specified by Government. Any way, the following is the text of the Service Tax Act: “renting of immovable property” includes renting, letting, leasing, licensing or other similar arrangements of immovable property for use in the course or furtherance of business or commerce but does not include — (i) renting of immovable property by a religious body or to a religious body; or (ii) renting of immovable property to an educational body, imparting skill or knowledge or lessons on any subject or field, other than a commercial training or coaching centre; Explanation 1.—For the purposes of this clause, “for use in the course or furtherance of business or commerce” includes use of immovable property as factories, office buildings, warehouses, theatres, exhibition halls and multiple-use buildings;]* Explanation 2.— For the removal of doubts, it is hereby declared that for the purposes of this clause “renting of immovable property” includes allowing or permitting the use of space in an immovable property, irrespective of the transfer of possession or control of the said immovable property; It may please be noted that TDS shall be deducted on the Gross Rent before Service Tax.

For information on Service Tax in India, read http://mytaxes.in/index.php?topic=14.0

hey dude...............you have to pay for 8.10 lac ..........@ 12.36% ...............but you can take cenvat credit also ...........monthly ...if your paying service tax to any of your vendors.........