Good Evening to All,
is it Vat applicable for hiring the equipments and Machinery??????????
Suggest me
vijaya kumar n (JOB) (488 Points)
30 June 2010Good Evening to All,
is it Vat applicable for hiring the equipments and Machinery??????????
Suggest me
SUDHIR & PRADEEP JI
(CA FINAL+LLB + DISA)
(2299 Points)
Replied 01 July 2010
Dear Vijay
Plz tell for which state are you talking about
bcoz the vat applicability is differennt in differennt state
TRILOCHAN
(SENIOR ACCOUNTANT)
(698 Points)
Replied 01 July 2010
hi
in Delhi VAT is applicable on hiring of Machinery
RAJU
(LEARNER)
(1089 Points)
Replied 02 July 2010
Dear Vijaya
VAT is applicable on hiring of all goods (which includes machinery & equipments). Though VAT is a State subject, the concept of `Sale` and `Transfer of Right to Use` for all the States are the same as the States are bound to levy tax only based on the powers conferred by Constitution of India. So, I believe it is applicable for all the States.
vijaya kumar n
(JOB)
(488 Points)
Replied 02 July 2010
Mr.Dharmaraju,
If possible can u send the Govt Circular ................
RAJU
(LEARNER)
(1089 Points)
Replied 03 July 2010
Please go through the definition of Sale in KVAT Act. The definition of sale includes `Transfer of Right to Use` which is nothing but hiring. Since VAT is payable on sale of all goods, the tax needs to be paid even on hiring ....
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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