Machine installed against security
This query is : Resolved
03 February 2009
We (in Punjab) purchase Tea Vending Machines from Himachal with CST.
1. On Sale we charge VAT 12.5%
2. Some machines we installed on customer site against refundable security )equal to Sale Value). Security is refundable after charging depreciation.
My question is
in case of machine installed on security what will be the VAT liability?
Thanks
Arun
1. On Sale we charge VAT 12.5%
2. Some machines we installed on customer site against refundable security )equal to Sale Value). Security is refundable after charging depreciation.
My question is
in case of machine installed on security what will be the VAT liability?
Thanks
Arun
03 February 2009
In case there is no transfer of ownership the case would of leasing which would be liable to service tax under the head Business Support Services.
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