service tax on renting of movable property

CA Nikhil Bhansali (Service) (128 Points)

21 June 2010  
Dear All,
Our Client is Providing 10 Trailors (Being moveable Property) on Rent of Rs 42,00,000/- p.a.
We would Like to know whether Service Tax is Leviable on such renting?
If it is not covered by service tax whether VAT or CST is leviable?
If not then will it be considered as exempted service within the meaning of Rule 2(e) of CENVAT Credit Rules?
If Yes then will it come under purview of Rule 6 of CENVAT Credit Rules?
Please answer at the earliest.
 
Nikhil Bhansali