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.
BeyondConsultants
(Expert)
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.
Vishnu Saboo
(Expert)
01 June 2009
i don't think so.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- MSME disclosure and disallowance
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
