If any company gives bykes on rent and give the term as Hire Charges whether it will still come under service tax? And whether MVAT will be applicable on it. Please give the answer in detail. So that I can understand the implication of the word HIRE on service tax & VAT.
25 May 2010
In terms of Article 366 (29A) (d) of the constitution of India, transfer of right to use goods is treated as deemed sale and liable to Sales tax/VAT.
CAclubindia
