Hiring of buses by RTC - applicable rate of tax under APVAT
This query is : Resolved
Pitchiki Ramalingam
(Querist)
06 February 2021
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%?
CA R SEETHARAMAN
(Expert)
07 February 2021
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.
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