Tds would be vat element or not
This query is : Resolved
09 April 2012
if we paid lease rent including vat than tds will be deducting including vat or excluding vat?
CA Rakesh Goenka
(Expert)
09 April 2012
ok then TDS should be deducted at total Bill value mean Including VAT
CA CS Amit S. Kedia
(Expert)
09 April 2012
TDS will be deducted inclusive of VAT but if service tax is charged then it be excluded.
Mihir Doshi
(Expert)
09 April 2012
Y vat is charged on Rent amount????? Can any one clarify????
CA CS Amit S. Kedia
(Expert)
09 April 2012
Dear MIhir,
VAT is charged on the amount received for providing right to use the property. Lease agreement gives right to use the property and hence, liable for VAT.
VAT is charged on the amount received for providing right to use the property. Lease agreement gives right to use the property and hence, liable for VAT.
Mihir Doshi
(Expert)
09 April 2012
Dear Amit,
Thanks but We are using property on lease but landlord never charged us VAT on the Rental amount!!! So, i am confused, how VAT is liable to charge over such amount?? I am talking about Gujarat VAT
Thanks but We are using property on lease but landlord never charged us VAT on the Rental amount!!! So, i am confused, how VAT is liable to charge over such amount?? I am talking about Gujarat VAT
CA CS Amit S. Kedia
(Expert)
09 April 2012
Leasing of immovable property is not liable for VAt,
Generally, it is applicable on leasing of motor vehicles, Software itc in most of the cases.
All these are movable property.
Generally, it is applicable on leasing of motor vehicles, Software itc in most of the cases.
All these are movable property.
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Mihir Doshi
(Expert)
09 April 2012
Ok, now i got the point
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