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Reverse mechanism and vehicle service

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 August 2013 Our company has engaged/hired vehicle for on monthly rental basis from individual service providers.

Is reverse mechanism is applicable , while making payments and how value of service to be calculated?

Service tax provider being individual ,so they are not adding any service tax.
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RENGARAJ R.K

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RENGARAJ R.K (Expert)
04 August 2013 Being a company, under RCM 40% of the bill amount will be taken for service tax calculation, whether individual collects or not.

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