Declared Services
This query is : Open
12 April 2016
Transfer of goods by way of hiring, leasing, licensing or any such manner without transfer of right to use such goods. please anyone give some examples for this statement.
thank you
CA R SEETHARAMAN
(Expert)
12 April 2016
Hiring of vehicles(lorry, buses,van and car) for use, after usage return back to owner. Hiring of machinery for hourly/daily rent are some examples.
Here it should be without transfer of ownership.
Here it should be without transfer of ownership.
12 April 2016
thank you so much sir. i still have a confusion regarding the statement i have mentioned, is the right to use the asset in that perticular span is not in the hands of leasee, or hirer?
CA R SEETHARAMAN
(Expert)
12 April 2016
Right to use is there for that only hiring charge is paid. Legal right to use i.e. ownership transfer is not there.
12 April 2016
oh yes sir, thanku and i really apreciate your valuable respoNSE.
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