ONE OF MY CLIENT IS RUNNING BUSINESS OF XEROX MACHINE, HE GIVES XEROX MACHINES ON RENT, PREPARING TAX INVOICE AS PRINTING CHARGES AND CHARGING 4% VAT.
3 Replies
Sachin
(Chartered Accountant)
(419 Points)
Replied 27 March 2009
Dear Rajni,
Whether VAT will be applicable in your case or not depend upon the Agreement with Party. Please Write me in Full Detail and send copy of Contract sothat I can help to you. my email id is Sachinagarwalcallb @ gmail.com
Ketan
(Services )
(120 Points)
Replied 03 April 2009
Hi....
Well to best of my knowledge VAT is applicable if the Machine is given on Rent... WE deal in Vending Machine and Similar issue arose... I took Openion of CB thakor... and as per him 4% VAT is applicalbe on the Rent charged. Since it falls under Lease Transaction.
SUbject to the Invoice is made as Rent for Machine.
chetan
(CA)
(26 Points)
Replied 11 March 2011
Can any one tell me that Contener given on rent shall be charged for VAT or Service tax
or both
if both the tax will apply, how how will the liability will be calculated under the different laws
becaues
vat apply by reson of defination of sale, which includes transfer of movable property for use (Lease)
And service tax will apply because of section ZZZZj applies which tax the renting of any tengiable goods,machinery, equipments for use
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