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Servicr Tax on rent on equipment.

This query is : Resolved 
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Guest

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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
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Himanshu Tandon

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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.
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K V Subba Rao

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K V Subba Rao (Expert)
10 December 2008 Newly introduced category of supply of tangible goods applies if Lessor retains effective control of equipment
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Himanshu Tandon

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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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