Lease line applicable on vat or service tax

vipin semwal (B.Com) (33 Points)

31 October 2015

We have purchase mobiles and sales to unregister dealer and payment received form the dealer by EMI

This condition is applicable VAT or Service tax……..????

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4 Replies

Ashpak Ali (Finance Accounts Manager) (87 Points)
Replied 01 November 2015

In this case On purchase Value Charge Vat and Service tax charge on the Intrest part of EMI. The Sevice Tax Charge when EMI Is Due.

vipin semwal (B.Com) (33 Points)
Replied 03 November 2015

Dear Ashpak

Kindly help me. If ownership not transfer to dealer this condition can be applicable VAT.?

Ashpak Ali (Finance Accounts Manager) (87 Points)
Replied 03 November 2015

Yes, in the case of Ownership is not transfer then same condition will be applicable.

vipin semwal (B.Com) (33 Points)
Replied 05 November 2015

hi Ashpak, As per sales tax There transfer of right to use has been deemed to be a sales in case applicable. VAT or Service Tax

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