Is VAT applicable when a machinery r other capital good is taken on hire..???
If so what is the rate of VAT????
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Vat on hire charges
Replies (1)
Applicability of VAT or Service Tax on hire is based on the nature of the hire. If control, risk etc are alos transfered alongwith posession VAT will applicable, otherwise Service tax will applicable. Ex. For hire of DG sets - VAT applicable , Cranes : Service tax
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