#1
Just a couple things to note before reading this..
1)I usually write in form of song format because this like many posting I do are associated with a instrumental on guitar I composed.
2)If you see this ... that just means to extend that word into the next word and so on


(Verse1)
You take your soul
for granted...
I'll take your soul
but grant this...
the fire rages on...

I look through...
hells doorway
I'm ready to take him on...
the fire rages on...

I laugh at the devil...
to his face
and I'll take his place
the fire rages on

but you can never stop
can never get in my way...
your hearts a trophy for which I play
and the fire rages on

(chorus)
get burnt by the fire
I'll be your true desire
the thing you want the mose
and can never have
but before long
the fire rages on


(Verse 2)
your heart bleeds
with a stinging squeeze
your sould begs
the death sentence extends

taken for granted
you hang on the rope
your sliding down
a slippery slope
your mind now has a problem
that you brain cant cope

your fading from grace
your losing your place
your too far gone
but the fire rages on


this is what I have so far going to add a bridge and a 3rd verse
#2
I like the 4-line structure that ends with "fire rages on", in general. Ending each bit with the same line ties it together nicely.

Verse 1 works, except I'm not sure about the "heart's a trophy" line - it seems like it's forced in to get "play" at the end to make it rhyme. I think with the devil and Hell, more imagery might be a good addition.

Second verse, I like how you drop the "fire rages on" except at the very end, and I like the first 2 lines of the last stanza rhyming, to bring it back to the chorus (if you do).

As for what you're adding, like I said above, I think more imagery might sound good, fire, brimstone, etc... best of luck with it!