Avail 20% discount on updated CA lectures for Dec 21 .Use Code RESULT20 !! Call : 088803-20003


Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Hiring of buses by RTC - applicable rate of tax under APVAT

This query is : Resolved 

My client has given his bus on lease to APSRTC during 2016-17 and received hire charges of Rs. 22.00 lacs. The Commercial Taxes authoritiers at Srikakulam issued notice proposing levy of tax at 14.5%. The applicable rate of tax is 1% or 14.5%?

Giving on hire a bus to state transport undertaking is exempt from service tax. If the bus is given on hire to a person other than a state transport undertaking, it will be taxed.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries


Trending Tags