Please let me know whether service tax on lease rent of machinery is applicable or not
Menu
Service Tax on Lease Rent of Machinery
Replies (3)
| Originally posted by :Yogesh M Ved | ||
| " | Please let me know whether service tax on lease rent of machinery is applicable or not | " |
YES
Yes. Under the head "Use of Tangible Goods" if the possession and control is not transferred.
The terms of agreement are important. Where the control and posession of the same is given to the cusotmer then not under supply of tangible goods. In this case only VAT would be applicable.
You may have to also examine under banking and financial services ( a 90% abatement is allowed on the lease renatals I think)
Recent Topics :
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
- Difference in TIS
- GSTR-9C Upload Status Error Occured
- “Income Tax Implications of Company-Related
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
- Addtional trade name for my another firm
- Commission / Agency Business without books: REAL E
Related Topics :
CAclubindia
