Servicr Tax on rent on equipment.
This query is : Resolved
Guest
Guest
(Querist)
10 December 2008
Hi all
Whether service tax is applicable on leasing out on equipments(movable) or vat will be applicable?
Please reply at the earliest.
Thanks in advance
Whether service tax is applicable on leasing out on equipments(movable) or vat will be applicable?
Please reply at the earliest.
Thanks in advance
Himanshu Tandon
(Expert)
10 December 2008
leasing out on equipments(movable) is covered under new service namely supply of tenable goods service 16.05.2008 under service tax.
K V Subba Rao
(Expert)
10 December 2008
Newly introduced category of supply of tangible goods applies if Lessor retains effective control of equipment
Himanshu Tandon
(Expert)
10 December 2008
yes it is true sir that Newly introduced category of supply of tangible goods applies if Lessor retains effective control of equipment. and if the control is transferred then VAT is payable under right to use on it.
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