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Notional interest calculated on forfeited security deposit of tenant isn't liable to service-tax

January 12, 2017[2017] 78 taxmann.com 12 (Mumbai - CESTAT)
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Cenvat : Where assessee had constructed commercial building for renting and availed cenvat credit of tax paid on input and inputs services and AA denied cenvat credit, since assessee had discharged service tax liability on amount received as rent from clients, it was entitled to cenvat credit of tax paid on input and inputs services

Service tax: Where assessee had constructed commercial building for renting and had taken interest free security deposit from customers and forfeited amount of advance given by customers on relegation of contract by customer, interest free security deposit and forfeited amount were not liable to service tax under 'renting of immovable property'

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