04 October 2019
RCM on renting of motor vehicle w.e.f 01.10.2019, whether this is applicable only on those who take motor vehicle on rent and then further renting that motor vehicle to others (work like intermediary) or self owned owner renting their vehicle? In notification, they have told any person other than a body corporate, paying central tax at the rate of 2.5% on renting of motor vehicles with input tax credit only of input service in the same line of business.
CAclubindia
