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2007 (11) TMI 142 - AT - Service TaxFinancing the purchase of vehicles - there is difference between Hire Purchase Scheme and Hire Purchase Finance Scheme - in the Hire Purchase Scheme, the ownership vests with the service provider who finances, whereas in the “Hire Purchase Finance Scheme”, the ownership is only with the hirer – vehicle is registered in the name of the hirer and not in the name of the appellant-company - service rendered is actually Hire Purchase Finance Scheme & not Hire Purchase Scheme so tax not leviable
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