Applicability of laws
This query is : Resolved
Guest
Guest
(Querist)
20 September 2013
DEAR ALL,
PLEASE SUGGEST ME FOR BELOW MENTIONED TOPIC...
ONE OF MY CLIENT IS MANUFACTURING MACHINERY AND WHICH IS EXCISE-ABLE PRODUCT ALSO I.E. THEY ARE PAYING EXCISE ALSO. NOW THEY ARE GIVING ON RENT THIS MANUFACTURED MACHINERY TO THEIR CLIENT AND AFTER SPECIFIED PERIOD SUCH MACHINERY HAS BEEN RETURNED.
NOW WHICH TAX TO BE LEVIED AND WHICH TYPE OF INVOICE TO BE RAISED AT WHICH POINT OF TIME? GIVE ME IDEA ABOUT FORMAT OF INVOICE ALSO....
AWAITING..... FOR EARLY REPLY
PLEASE SUGGEST ME FOR BELOW MENTIONED TOPIC...
ONE OF MY CLIENT IS MANUFACTURING MACHINERY AND WHICH IS EXCISE-ABLE PRODUCT ALSO I.E. THEY ARE PAYING EXCISE ALSO. NOW THEY ARE GIVING ON RENT THIS MANUFACTURED MACHINERY TO THEIR CLIENT AND AFTER SPECIFIED PERIOD SUCH MACHINERY HAS BEEN RETURNED.
NOW WHICH TAX TO BE LEVIED AND WHICH TYPE OF INVOICE TO BE RAISED AT WHICH POINT OF TIME? GIVE ME IDEA ABOUT FORMAT OF INVOICE ALSO....
AWAITING..... FOR EARLY REPLY
21 September 2013
If you are expecting revenue from renting machinery shall be more than 10 lakh, then apply for service tax registration and comply with service tax compliances.
Guest
Guest
(Querist)
22 September 2013
ok
thanks for that dear,
but which type of invoice and at which point of time to be issued. also the format of invoice to be issued.
coz there may be vat excise or service tax.....
MACHINERY HAS BEEN SENT OUT OF FACTORY MEANS EXCISE & VAT TO BE LEVIED....
thanks for that dear,
but which type of invoice and at which point of time to be issued. also the format of invoice to be issued.
coz there may be vat excise or service tax.....
MACHINERY HAS BEEN SENT OUT OF FACTORY MEANS EXCISE & VAT TO BE LEVIED....
22 September 2013
VAT is definitely not applicable as you are not selling the machinery. You renting it. So service tax shall be applicable here.
Excise is a manufacturing tax. But I am not an expert in it. So some other expert may comment on it.
Excise is a manufacturing tax. But I am not an expert in it. So some other expert may comment on it.
Guest
Guest
(Querist)
22 September 2013
thanks nikhilji...........
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- EXPORT COMMERCIAL INVOICE HSN CODE
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- ITR 4 and Bank transactions
- ITDS U/S.194T of Firm
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
