Our one of my frd's Company who is a mfg and marketing of Pharma comp. who have imported machinery on Rental Basis from USA. These machinery equipment which is used for LAB Equipment for treatment of Diabetes patients.
My query is whether these machinery imported on Rental basis is applicable for Service TAx or Not. The same machines which were imported from USA paid regularly rental charges to the party thro wire transfer and also paying TDS on these rental charges to Concerned Dept.
Plz clarify me whether Service Tax Applicable or Not?
IF applicable plz Quote me the Notification and Act No.
With Regards
B.sreenivasa Rao
CAclubindia
