Sir,
Pls. Tell me, is service tax applicable on Machinery Hire Charges?
Very Urgent.
Thanks
4 Replies
Devendra
(Chartered Accountant)
(4775 Points)
Replied 10 November 2011
If the Fixed asset hired is immovable only then it shall be liable for service tax under the service category ; Renting of immovable properties. But in your case VAT on leasing shall be applicable.
Regards,
Devendra K
prasad
(CA Final Bcom(Taxation) Sr Audit Team Leader )
(71 Points)
Replied 10 November 2011
service tax is applicable if Lessor (Person who is giving machinery for rent) is Banking Co or Non Banking Financial Companies (AS 19 applies)
HARSHAD
(Service)
(28 Points)
Replied 11 November 2011
Hi there, Kindly let me know if for a individual book seller (who does purchase books from the distributors and agents i.e. sub distributors) who runs a shop, is he liable to charge service tax. If not which willl be the applicable tax he should levy on the purchaser.
Regards,
Harshad
Nirav Worah
(CHARTERED ACCOUNTANT)
(396 Points)
Replied 11 November 2011
If hire is in nature of operating lease then it will come under Supply of tangible goods Service.
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