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Service tax rate on car hiring charges (Service Tax)

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This query is : Resolved



( Author )
18 April 2012

Dear sir,
we have hired a car for company on monthly basis, Please suggest that what rate of service tax he will charged on invoice of hiring charges.

Brijesh Pandey


CA Nikhil Jhanwar

( Expert )
18 April 2012

This service is taxable under rent-a cab service on which abatement of 60% is provided. Therefore, effective rate of tax is 12% X .40= 4.8%


Narasimha

( Expert )
18 April 2012

Hi Brijesh

The effective service tax rate shall be 4.944% (thereof 40% of 12.36%) on the Gross bill


Narasimha

( Expert )
18 April 2012

Hi Brijesh

The effective service tax rate shall be 4.944% (thereof 40% of 12.36%) on the Gross bill


CA Nikhil Jhanwar

( Expert )
18 April 2012

I am sorry second sentence was inadvertently miscalculated, now corected.....


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