Service Tax On Aviation Service
This query is : Resolved
14 March 2009
We are a company in Aviation field.
Q. First we hire private chartered planes and further give them on hiring.
Will service tax is applicable on this service?
I am waiting for your reply.
Thanks & regards
Mukesh Kumar
Accountant
Delhi
Q. First we hire private chartered planes and further give them on hiring.
Will service tax is applicable on this service?
I am waiting for your reply.
Thanks & regards
Mukesh Kumar
Accountant
Delhi
14 March 2009
Yes
14 March 2009
thanks
14 March 2009
01 April 2009
This kind of hiring of equipment falls under the category of "Operating lease", which can be defined as :
Operating lease is a contract between the lessor and lessee such that the cost of the asset is not fully recovered from a single lessee. This means that the period of the lease will be shorter since the lessor will recover the cost of the asset from multiple lessees. Repair and maintenance of the asset is the lessor's responsibility.
If your activity is subject to above, then yes you stand covered under service tax.
Operating lease is a contract between the lessor and lessee such that the cost of the asset is not fully recovered from a single lessee. This means that the period of the lease will be shorter since the lessor will recover the cost of the asset from multiple lessees. Repair and maintenance of the asset is the lessor's responsibility.
If your activity is subject to above, then yes you stand covered under service tax.
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