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TMI Blogservice tax on operating lease of auto rickshawsX X X X Extracts X X X X X X X X Extracts X X X X ..... service tax on operating lease of auto rickshaws X X X X Extracts X X X X X X X X Extracts X X X X ..... TO LEASE OUT AUTO RICKSHAWS AS OPERATING LEASE. WHETHER THERE IS SERVICE TAX ON INTEREST PAYMENTS. BUT ON HYPOTHECATION OF ASSETS , INTEREST INCOME , NO SERVICE TAX IS PAID BY BANKS. PLEASE CLARIFY. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reply By ALOK GUPTA: The Reply: Your question is not supported by full facts & figures. Interest payment is out of ambit of service tax. How does hypothecation of assests & interest income come int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o picture. What is the nexus between NBFC & banks? Whether you compare the service rendered by an NBFC & a Bank? Which amount, to come under tax purview, is being sought for? [Views expressed are ind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ividual in nature] Reply By satbir singh wahi: The Reply: NBFC WANTS TO LEASE OUT AUTO RICKSHAWS AS OPERATING LEASE. WHETHER THERE IS SERVICE TAX ON INTEREST INCOME EARNED ON OPERATING LEASE OF AUTO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RICKSHAWS. Reply By Vijay Chitte: The Reply: As per Notification 04/2006-ST, w.e.f. 01.03.2006 service tax will be payable only on 10% of Interest plus management fees / Documentation charges/ proce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssing fees in case of hire purchase and leasing.
Reply By Rajeev Gupta:
The Reply:
Service Tax is not leviable in case of OPERATING lease. X X X X Extracts X X X X X X X X Extracts X X X X
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