VAT applicability
This query is : Resolved
22 March 2009
if "X" provide trucks on rent or hire on monthly rental basis, i want to know on this rent VAT would be applicable or not but ownership of truck will remain with "X".
i read definitation of "sale" in which it has been mention that SALE include " transfer of right to use goods for any purpose" & in "GOODS" definitation moveable property is include.
i read definitation of "sale" in which it has been mention that SALE include " transfer of right to use goods for any purpose" & in "GOODS" definitation moveable property is include.
22 March 2009
Yes - VAT is applicable as effective control and posession is also transfered to the customer.
23 March 2009
author : Badri Narain Maheshwari
Posted On
22 March 2009
if "X" provide trucks on rent or hire on monthly rental basis, i want to know on this rent VAT would be applicable or not but ownership of truck will remain with "X".
i read definitation of "sale" in which it has been mention that SALE include " transfer of right to use goods for any purpose" & in "GOODS" definitation moveable property is include.
is service tax is applicable or not.
Posted On
22 March 2009
if "X" provide trucks on rent or hire on monthly rental basis, i want to know on this rent VAT would be applicable or not but ownership of truck will remain with "X".
i read definitation of "sale" in which it has been mention that SALE include " transfer of right to use goods for any purpose" & in "GOODS" definitation moveable property is include.
is service tax is applicable or not.
01 June 2009
i don't think so.
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