Reverse charge on renting of car for directors of company
This query is : Resolved
28 November 2013
Dear All,
Please guide me on Service Tax applicable under reverse charge mechanism for renting a car for director/employees of company, I have recd. a bill from Proprietary concern with out charging service tax p. tell me that in this case our company have to pay service tax or not?? if yes then @ what %, what is abatement %
Thnaks in advance
Please guide me on Service Tax applicable under reverse charge mechanism for renting a car for director/employees of company, I have recd. a bill from Proprietary concern with out charging service tax p. tell me that in this case our company have to pay service tax or not?? if yes then @ what %, what is abatement %
Thnaks in advance
28 November 2013
if bill is in the name of director/employees no reversecharge applicable
.
.
if bill is in the name of comapany reversecharge applicable
.
.
Tax on 40% of value by service receiver and Nil by service provider. If the service provider intends to avail Cenvat credit, he can pay service tax on balance 60%. Thus, service receiver is liable to pay service tax only on 40% value.
.
.
if bill is in the name of comapany reversecharge applicable
.
.
Tax on 40% of value by service receiver and Nil by service provider. If the service provider intends to avail Cenvat credit, he can pay service tax on balance 60%. Thus, service receiver is liable to pay service tax only on 40% value.
Message likes :
1 times
28 November 2013
Thanks a lot ganesh ji....can u able to provide me any specific notification or circular on the same as I have to convince my seniors.....
28 November 2013
Notification 30/2012
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Regarding Applicability of Tax Audit u/s 44AB
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Foreign lottery ticket bought online from India: legality, tax and consequences
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Reprocessing of rectification order AY 2025-26
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
