Exempts service tax on local taxes paid on taxable services of renting of immovable property

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..... RT II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) New Delhi, the 22nd May, 2007 1 Jyaistha, 1929 (Saka) Notification No. 24/2007 Service Tax G.S.R. (E). In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being sati .....

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..... iod for which property tax paid is different from the period for which service tax is paid, property tax proportionate to the period for which service tax is paid shall be calculated and the amount so calculated shall be excluded from the gross amount charged for renting of the immovable property for the said period, for the purposes of levy of service tax. Example: Property tax paid for April t .....

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