We are engaged in manufacturing of oil & gas equipment. After manufacturing we are provinding equipments on rental basis can this be considered as deemed sale or sale of services.
Can i claim ITC for goods procured for rental equipment. Please guide me related provisions under the gst act.
if there's no transfer in title of goods same shall be covered under service.
Check chapter 99 entry "Leasing or rental services concerning other machinery and equipments with or without operator" to be taxable at 18%.
CA Amit Aggarwal
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