Is VAT applicable when a machinery r other capital good is taken on hire..???
If so what is the rate of VAT????
1 Replies
CA vinod
(Chartered Accountant)
(518 Points)
Replied 27 July 2013
Applicability of VAT or Service Tax on hire is based on the nature of the hire. If control, risk etc are alos transfered alongwith posession VAT will applicable, otherwise Service tax will applicable. Ex. For hire of DG sets - VAT applicable , Cranes : Service tax
Recent Topics
- SECTION 148 PROCEEDING
- GST AUDIT 01 - NOTICE
- Capital gain purchase date
- Transmission of deceased's shares in physical form
- Income tax notice but unable to file updated retur
- Income tax depreciation deductions
- GST Notice (Under Section 73)
- Asset Declaration in ITR2 for flat purchased in jo
- Active pan but invalid
- SECTION 128A For those who filed appeal and order
Related Threads
Trending Online Classes
-
PF & ESI Course - Labour Code 2019 Along with Examples and Case Studies
Mr.Balamurugan Ranganathan13 March 2025
CAclubindia
