Rate of Tax for Hiring of machinery

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..... Rate of Tax for Hiring of machinery
Query (Issue) Started By: - T.K. CHANDRASEKARAN Dated:- 28-10-2017 Last Reply Date:- 29-10-2017 Goods and Services Tax - GST
Got 3 Replies
GST
What wil .....

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..... l be the Rate of Tax under GST for Hiring of Machinery & Equipment without transfer of active possession (not lease) ? Renting of machinery where ever the active possession passed on from the person h .....

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..... iring to the person using the machinery on hire will be a LEASE transaction. So, in this case, it is not a lease. Reply By Rajagopalan Ranganathan: The Reply: Sir, Hiring of Machinery & Equipment i .....

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..... s a service falling under Service Accounting Code 9973. Reply By T.K. CHANDRASEKARAN: The Reply: Thank you very much Mr. Rajagopalan Sir. The real issue is whether the hiring above referred is to be .....

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..... taxed under Other Services Head @ 18% or to be taken as Lease or Rental taxable at rate applicable for that kind of machinery treating it as "Lease"? I am expecting a discussion in this reg .....

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..... ard. Reply By KASTURI SETHI: The Reply: No difference between leasing or renting in the eyes of Service Tax Law or GST Law.
Discussion Forum - Knowledge Sharing .....

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