Reverse mechanism and vehicle service
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2013
Our company has engaged/hired vehicle for on monthly rental basis from individual service providers.
Is reverse mechanism is applicable , while making payments and how value of service to be calculated?
Service tax provider being individual ,so they are not adding any service tax.
Is reverse mechanism is applicable , while making payments and how value of service to be calculated?
Service tax provider being individual ,so they are not adding any service tax.
RENGARAJ R.K
(Expert)
04 August 2013
Being a company, under RCM 40% of the bill amount will be taken for service tax calculation, whether individual collects or not.
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