Vat on Services
This query is : Resolved
23 July 2011
Dear All,
Our company is dealing in trading of computer items such as printer ,computer, laptop, cartridge, dvd writer, etc.
we are also given some printers to the parties on monthly rental basis & we are issue monthly bill @ 2200/- plus 5%vat. I can't understand that why we are charging vat on it, because vat is charged only sale of goods & not on renting of the goods, please explain me with sections and ammendments.
Our company is dealing in trading of computer items such as printer ,computer, laptop, cartridge, dvd writer, etc.
we are also given some printers to the parties on monthly rental basis & we are issue monthly bill @ 2200/- plus 5%vat. I can't understand that why we are charging vat on it, because vat is charged only sale of goods & not on renting of the goods, please explain me with sections and ammendments.
25 July 2011
Dear Arpit,
VAT is also applicable on Hire Charges (under Right to Use, which is covered under VAT), so your company is charging VAT on bills.
VAT is also applicable on Hire Charges (under Right to Use, which is covered under VAT), so your company is charging VAT on bills.
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