News & events
Govt moves SC over service tax on renting
The government is in a soup over its efforts to undo a judicial order on a crucial tax policy through retrospective amendment to the relevant law. Through Finance Act 2010, the government had sought to levy service tax on renting of immovable property to businesses, despite the fact a similar law enacted three years ago remained non-enforceable, thanks to a Delhi High Court ruling on a petition challenging the law filed by major retailers. Now, the high court has once again put a stay order on the authoritiesí move to collect service tax on such rentals paid since July 2007, when the original law was to take effect. A frustrated government has promptly sought Supreme Courtís intervention on the issue.
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