Service tax or sales tax?? which applicable??
This query is : Resolved
29 August 2011
Hello Dear Members...
Please sort out a problem stating as under:-
A Comapny is going to transfer the rights to use Tangible Goods (Here Tangible Goods are mainly Cars) by an agreement for a period of time on receiving lumpsum amount. My question is that whether there is Service Tax applicable or VAT applicable? Remember here ownership is not transfered only right to use goods is transferred.
Please Reply Soon!!! Its Most urgent!!!
Thanks in Advance
Sanjay Verma
Please sort out a problem stating as under:-
A Comapny is going to transfer the rights to use Tangible Goods (Here Tangible Goods are mainly Cars) by an agreement for a period of time on receiving lumpsum amount. My question is that whether there is Service Tax applicable or VAT applicable? Remember here ownership is not transfered only right to use goods is transferred.
Please Reply Soon!!! Its Most urgent!!!
Thanks in Advance
Sanjay Verma
31 August 2011
Sales Tax will be applicable as it is a Deemed Sales.
31 August 2011
But as per Service Tax Act it also covered under "Supply of Tangible goods for use" Service. so whether we have to pay service tax also? What will be the answer if we are receiving consideration in monthly installments?
01 September 2011
https://www.servicetax.gov.in/st-profiles/supply-tagiblegoods.pdf
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
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Section 50-fixed asset-->building ceases to exist
- Reprocessing of rectification order AY 2025-26
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Gift Received from nonblood relative
- Consolidated financials
- 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
