A factory building is leased out to others along with machinery on composite lease agreement. Monthly rental income is liable to VAT under Karnataka VAT or Service tax is applicable or both is applicable?
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Service tax and karnataka vat both applicable ?
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Lease rentals received from leasing of movable property(machinery,vehicles,furniture etc) is liable for VAT and not ST.. Leasing of immovable property only is liable for ST........mjk
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