Liable for service tax
This query is : Resolved
31 December 2012
is JCB given on rent liable to service tax?
If yes, whether expenes like driver's salary, diesel oil, allowable as input credit?
and whether gross turnover of JCB receipts will be considered for service tax registration
If yes, whether expenes like driver's salary, diesel oil, allowable as input credit?
and whether gross turnover of JCB receipts will be considered for service tax registration
31 December 2012
The pure renting by giving possession and control of the JCB to the customer would be leviable to VAT.
However when the control and posession is with the owner, then he would be liable for ST only on the gross amount.
As per the present definition of capital goods it appears that the credit on the same is available as it would be undermaterial handling equipment. The same maybe confirmed by dislcosing to the dept. if credit proposed tobe availed on the JCB.
NO ST on salary/ input on deisel is available.
However when the control and posession is with the owner, then he would be liable for ST only on the gross amount.
As per the present definition of capital goods it appears that the credit on the same is available as it would be undermaterial handling equipment. The same maybe confirmed by dislcosing to the dept. if credit proposed tobe availed on the JCB.
NO ST on salary/ input on deisel is available.
Message likes :
1 times
10 February 2013
you can claim input credit on the excise duty paid on purchase of machinery,,,,, but to claim this you should not have claimed depreciation on the excise amount in income tax. that is dont add exicise value while taking Machi ne value for depreciation purpose.
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
