applicability of VAT for rental
This query is : Resolved
04 January 2011
one of my clients they are into the business of rental business.
and they have given one machinery on rent. but they are charging VAT on it.
my question is, whether the VAT will be applicable for rental goods also, if yes i want to know the concept of VAT....
and they have given one machinery on rent. but they are charging VAT on it.
my question is, whether the VAT will be applicable for rental goods also, if yes i want to know the concept of VAT....
06 January 2011
Yes
10 January 2011
VAT is applicable when there is a transfer of possession & control,can give ur mail id ,will forward detail discussion/analyis of rental (VAT Vs Service tax).
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