Renting of motor vehicle
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2012
Please explain me the concept of renting of motor vehicle under reverse charge with example.
05 December 2012
1. If the service provider is an individual or HUF or firm, then reverse charge is applicable and the service recipient is liable to pay service tax.
2. The service recipient can claim abatement of 60%, accordingly effective rate of tax shall be 4.944%
Eg.
Bill - Rs. 10,000
Service recipient shall deposit service tax of Rs. 494.40/-
2. The service recipient can claim abatement of 60%, accordingly effective rate of tax shall be 4.944%
Eg.
Bill - Rs. 10,000
Service recipient shall deposit service tax of Rs. 494.40/-
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 December 2012
What about non abated value?
05 December 2012
then service provider 60% and service receiver 40%.
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