service tax on machinery hire charges
This query is : Resolved
27 March 2008
please tell me whether service tax is applicable on machinery hire charges in case of a limited company.
27 March 2008
The supplier of machineries ( hiring ) will have to pay the service charge 12.36%
The supplier of machineries ( hiring ) will have to pay the service charge 12.36%
27 March 2008
At present, providing machinery on hire basis is not taxable. The service is proposed to be taxed in the Budget Proposal under the catagory of "Renting of movable properties" wef from the date of notification.
27 March 2008
yes wef the new budget, services provided in relation to supply of tangible goods is brought under serv. tax net @12.36%.
the exemption limit is Rs. 10 lakhs P.A for serv. tax wef 01-04-08 IN PLACE OF EARLIER RS. EIGHT LAKHS.
THE THRESHOLD LIMIT FOR REGISTRATION UNDER SERV. TAX ACT WEF 01-04-08 IS RS. NINE LAKHS IN PLACE OF EARLIER RS. SEVEN LAKHS.
though the budget for 2008-09 commences from 01-04-08, the govt. of india ministry of finance and dept. of revenue comes with a notification.
In case OF SERV. TAX the central excise dept. will come out with the new notification.
R.V.RAO
the exemption limit is Rs. 10 lakhs P.A for serv. tax wef 01-04-08 IN PLACE OF EARLIER RS. EIGHT LAKHS.
THE THRESHOLD LIMIT FOR REGISTRATION UNDER SERV. TAX ACT WEF 01-04-08 IS RS. NINE LAKHS IN PLACE OF EARLIER RS. SEVEN LAKHS.
though the budget for 2008-09 commences from 01-04-08, the govt. of india ministry of finance and dept. of revenue comes with a notification.
In case OF SERV. TAX the central excise dept. will come out with the new notification.
R.V.RAO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
