relating hiring & leasing agreement

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
23 May 2011 is there any service tax attract relating to using the vehicles of the other companies through leasing or hiring agreement?
please give the urgent clarification with notification or sections

24 May 2011 Yes it is a taxable service

One such service is the supply of tangible goods, including machinery, equipment and appliances for use where there is no transfer of right of possession and effective control.

If the right of possession and effective control is transferred by the lessor to the lessee then no service tax but VAT, but if the effective control lies with the lessor, service tax becomes payable

24 May 2011 May be liable to service tax under supply of goods services if right of effective control and possession is not transferred.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries