VAT on rentl
This query is : Resolved
13 January 2011
sir,
One of my Clint has given plant and machinery on rent and he is charging vat on that, Is vat chargeable on rent of P& M, and if yes than what rate of VAT is applicable ?
One of my Clint has given plant and machinery on rent and he is charging vat on that, Is vat chargeable on rent of P& M, and if yes than what rate of VAT is applicable ?
13 January 2011
1. Principally the Vat is charged on the goods and service tax is charged on services.
2. Renting of plant & machinery is covered under Service Tax and it is a service
3. Hence the vat is not charged on Renting of Plant & Machinery.
2. Renting of plant & machinery is covered under Service Tax and it is a service
3. Hence the vat is not charged on Renting of Plant & Machinery.
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