we have given a machine for rent to industry on rental charges. Should we pay Service Tax on the rental charges of the machine we are giving? please give your suggestion.
Menu
Service tax on machinery
Replies (3)
If u have business of renting machinery to industries, then service tax shall be leviable. However, if one time transaction then no service tax shall be leviable.
To describe the transaction in technical terms; if the transaction is "a let out of idle capacity", then it qualifies as income from busines profession only. But if the assessee carries on these type of transactions "normally" i.e. to say in his normal day-to-day activity, then service tax is leviable.
What is reverse charge in service tax when it is applicable
Recent Topics :
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
Related Topics :
CAclubindia
