relating hiring & leasing agreement
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2011
is there any service tax attract relating to using the vehicles of the other companies through leasing or hiring agreement?
please give the urgent clarification with notification or sections
please give the urgent clarification with notification or sections
24 May 2011
Yes it is a taxable service
One such service is the supply of tangible goods, including machinery, equipment and appliances for use where there is no transfer of right of possession and effective control.
If the right of possession and effective control is transferred by the lessor to the lessee then no service tax but VAT, but if the effective control lies with the lessor, service tax becomes payable
One such service is the supply of tangible goods, including machinery, equipment and appliances for use where there is no transfer of right of possession and effective control.
If the right of possession and effective control is transferred by the lessor to the lessee then no service tax but VAT, but if the effective control lies with the lessor, service tax becomes payable
24 May 2011
May be liable to service tax under supply of goods services if right of effective control and possession is not transferred.
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