Vat on rental charges
This query is : Resolved
13 December 2011
ONE CLIENT IS CHARGING VAT @ 4% ON RENTAL CHARGES ON UPS USING UNDER RENT. IS IT JUSTIFIED TO CHARGE VAT ON RENTAL CHARGES ??
14 December 2011
yes, your client is right. VAT is applicable when movable goods are put to use or given on hire / rental basis. The rate of tax is applicable VAT rate for that goods in the state.
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