Greetings to everyone,
Can anyone suggest the treatment of Applicability of Service tax on hiring of scorpio on monthly basis?
Whether RCM or NCM and related treatment.
Thanks in advance.
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 11 August 2015
Yeah RCM would be applicable if service is provided by an individual/HUF/Firm/AOP, located in a taxable territory to a business entity registered as body corporate located in a taxable territory. With abatement, service receiver to pay 100% of ST and without abatement, service provider to pay 50% of ST and service receiver to pay balance.
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