sale tax or vat is applicable or not

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manoj kumar shaw

manoj kumar shaw (Querist)
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21 May 2008 Right to use movable properties like JCB or earth moving equipment to customers .

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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21 May 2008 Yes applicable

sunil

sunil (Expert)
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21 May 2008 yes, the vat is applicable, rate of tax will be as the equipment's rate.. U can take input rebate against the equipment purchase within state.

CA. O.P. Agarwalla

CA. O.P. Agarwalla (Expert)
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18 September 2008 It is nice to know that unlike Assam, other states are allowing ITC against VAT paid for purchasing of Assets (to be used in transfering of right to use).

CA. O.P. Agarwalla

CA. O.P. Agarwalla (Expert)
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19 September 2008 Please read the contract carefully:-

01. It is taxable in the state in which the contract is executed.
02. lease check that whether transfer of right to use has been made or not? In many case it has been found that in such type of cases, right to use is never transfered.

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