29 August 2011
Hello Dear Members... Please sort out a problem stating as under:- A Comapny is going to transfer the rights to use Tangible Goods (Here Tangible Goods are mainly Cars) by an agreement for a period of time on receiving lumpsum amount. My question is that whether there is Service Tax applicable or VAT applicable? Remember here ownership is not transfered only right to use goods is transferred. Please Reply Soon!!! Its Most urgent!!! Thanks in Advance Sanjay Verma
31 August 2011
But as per Service Tax Act it also covered under "Supply of Tangible goods for use" Service. so whether we have to pay service tax also? What will be the answer if we are receiving consideration in monthly installments?
CAclubindia
