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Renting of motor vehicle

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 December 2012 Please explain me the concept of renting of motor vehicle under reverse charge with example.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
05 December 2012 1. If the service provider is an individual or HUF or firm, then reverse charge is applicable and the service recipient is liable to pay service tax.

2. The service recipient can claim abatement of 60%, accordingly effective rate of tax shall be 4.944%

Eg.

Bill - Rs. 10,000

Service recipient shall deposit service tax of Rs. 494.40/-
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 December 2012 What about non abated value?
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Viral Vora

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Viral Vora (Expert)
05 December 2012 then service provider 60% and service receiver 40%.
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