Hire - purchase agreement

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Querist : Anonymous

Querist : Anonymous (Querist)

12 April 2013 Is service tax is chargeable on hire purchase agreement ??

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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28 June 2013 On agreement no service tax is changeable it is on the transaction if it falls under ST and you have charged it from your customer then you have to deposit it whether you are liable or not.

After the publication of negative list I think all the services are covered under service tax. I would further like to inform you that if you have charged and paid VAT then no ST except under special circumstances.