Our Company has taken computers on Rent and the dealer raised invoice for the same and he charges Dvat @ 12.5%. Is he can charges Dvat on the rented computers? If yes then under which Section? Please reply asap.
Komal Sharma (Assistant Accountant) (1887 Points)
14 December 2012Our Company has taken computers on Rent and the dealer raised invoice for the same and he charges Dvat @ 12.5%. Is he can charges Dvat on the rented computers? If yes then under which Section? Please reply asap.
DAYANANDA K N
(ACCOUNTS EXCECUTIVE)
(575 Points)
Replied 14 December 2012
Defination of sale includes transfer of the right to use any goods for any purpose (whether or not for a specified period) for cash, deferred payment or other valuable consideration. So I think vendor is right in charging the vat.
Regards
Dayananda
Durga Prasad
(Trainee)
(392 Points)
Replied 14 December 2012
I think he should not charge vat on rented computers
dharmendra singh
(asst manager finance)
(53 Points)
Replied 14 December 2012
nayan
(article assistant)
(466 Points)
Replied 14 December 2012
CA Pooja Agarwal
(Chartered Accountant)
(3228 Points)
Replied 14 December 2012
Hire charges received on renting movable goods are subject to vat as it falls under the definition of sale
CA Pooja Agarwal
(Chartered Accountant)
(3228 Points)
Replied 14 December 2012
Hire charges received on renting movable goods are subject to vat as it falls under the definition of sale
Komal Sharma
(Assistant Accountant)
(1887 Points)
Replied 14 December 2012
Thanx a lot for the replies..............
Pankaj Pundir
(Sr. Accountant)
(22 Points)
Replied 14 December 2012
Dear sir, We are a construction company engaged in the work of laying of gas pipe line. we are looking for a commercial tax consultant (Work Contract Tax) at vijayawada (Andhra Pradesh). Please provide me the reference of any good tax consultant.
MOHD ANZAR ALI
(EMPLOYEE)
(78 Points)
Replied 14 December 2012
kidly quote the relevent provisions on which , dealer can charge vat on computer hire charges.
thanks in advance....
Pankaj Pundir
(Sr. Accountant)
(22 Points)
Replied 14 December 2012
Dear Sir,
As the notification No.32/2007(composition scheme rule 2007) has been rescind and new service tax rule vide Notification no.24/2012 & 36/2012 has been affected. kindly clarify the following
1.Whether Not.No.01/2011 (amendment to Not No.32/2007) dated 01.03.2011 is in existence or not
2. We are paying the service tax on 40% value.
(i)Can we avail the full Cenvat credit of service tax paid to our subcontractor providing service under sub clause (zzd) (zzq) (zzzh) of clause (105) of section 65 if they are paying service tax on 40% value.
(ii)Can we avail the full Cenvat credit of service tax paid to our subcontractor providing service under sub clause (zzd) (zzq) (zzzh) of clause (105) of section 65 if they are paying service tax on full value after availing the cenvat credit.
Vinayak2208
(49 Points)
Replied 14 December 2012
Hi, Pls refer decision on Karnataka HC in case of Wireless TT Info and BSNL in AP HC (not confirmedabt jurisdiction)
Transfer of right to use will amount to sale (deemed sale) however effective control has to be tested.
If you vendor has passed you effective control then vendor can claim VAT, if not it is just a service contract.
MD MUMTAZ
(Student CA Final )
(28 Points)
Replied 16 December 2012
plz send me list of ca firms with address for joining articleship
MD MUMTAZ
(Student CA Final )
(28 Points)
Replied 16 December 2012
plz send me what should be learn in articleship