Service tax rate on car hiring charges
This query is : Resolved
BRIJESH KUMAR PANDEY
(Querist)
18 April 2012
Dear sir,
we have hired a car for company on monthly basis, Please suggest that what rate of service tax he will charged on invoice of hiring charges.
Brijesh Pandey
we have hired a car for company on monthly basis, Please suggest that what rate of service tax he will charged on invoice of hiring charges.
Brijesh Pandey
CA Nikhil Jhanwar
(Expert)
18 April 2012
This service is taxable under rent-a cab service on which abatement of 60% is provided. Therefore, effective rate of tax is 12% X .40= 4.8%
18 April 2012
Hi Brijesh
The effective service tax rate shall be 4.944% (thereof 40% of 12.36%) on the Gross bill
The effective service tax rate shall be 4.944% (thereof 40% of 12.36%) on the Gross bill
18 April 2012
Hi Brijesh
The effective service tax rate shall be 4.944% (thereof 40% of 12.36%) on the Gross bill
The effective service tax rate shall be 4.944% (thereof 40% of 12.36%) on the Gross bill
CA Nikhil Jhanwar
(Expert)
18 April 2012
I am sorry second sentence was inadvertently miscalculated, now corected.....
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