Hello fellas!!
There is abatement of 40% on renting of Motor Cab (defined in Motor Vehicles Act as having passenger capacity of 6 or less).
Under RC Mechanism, there is full RC liability on service receiver if he has received service of renting of motor cab on abated value and partial (50%) RC liability on input service of renting of motor cab on non abated value received by Body Corporate (Company and LLP).
Does the above explainations ultimately mean that RCM is not applicable to renting of vehicle with passenger capacity of more than 6 to a person who is not a body corporate?
CAclubindia
