Whether hiriing diesel generator sets for three years for supply of power to plant and equipment liable for service tax and/or leviable for VAT under deemed sales?
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Clarification
Replies (1)
Service tax is applicable when a particular service is provided or to be provided by a person to another person for a consideration .
As per VAT LAW of any state deemed sale is included in the definition of sales and so VAT is applicable on deemed sales also
In the instant case the diesel generator is hired by a person for a consideration i.e.rent and not given on lease or on hire purchase basis and so SERVICE TAX is applicable
OK ...
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