The Punjab and Haryana High Court has recently held that service tax is not applicable to cycle parking stands and ordered the release of the security amount along with interest accrued on the same in favour of the petitioner. The petitioner had taken vacant land on lease at Bus Stand, Karnal, for parking of cycle/scooters,in the financial year 2012-2013. The petitioner was directed to deposit an amount of Rs. 1,56,000/- as refundable security along with the rental as agreed.
Source Taxscan
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