Charge Registration

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Priyanka (Querist)

31 January 2009 hi
i want to ask whether charge registration is required in respect of cars of company if car is hypothecated with banks???
Please provide the rule/section to be referred to about the same as different views are emerging for the same doubt

Thanks.

@ri...

@ri... (Querist)

31 January 2009 Our is basically a private company that exports raw materials(which we buy in India) to some of our UK clients. We dont sell anything in India. But now we are about to do some services(out sourcing services) to one of our Indian clients. So should we charge service tax on it.
Say that all the income we get from rendering such services does not exceed Rs 5 lakhs.

Please help me in this issue.

Thanks & Regards
Arihanth

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)

31 January 2009 As per the companies act the company has to inform the concerned registrar if you have any loan by hypotheication of the assets of the company.

If you have taken loan against cars then it is necessary to register the charges with concerned officer through form 8.

If you find any difficulty in filing the form or how to proceed please send me details to my id sahanaseena@gmail.com. we will fill the form and guide you how to proceed futher.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

31 January 2009 If charges on services provided do not exceed Rs 9 lakhs registration under service tax is not mandatory. However the nature of services is not mentioned in the query and hence under which head your services fit in cannot be answered.

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