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of <h1>Clarification on Service Tax for Goods Hiring Without Transfer of Use Rights per Finance Act, 1994; Check Contract Terms.</h1> The circular addresses service tax liability on hiring goods without transferring the right to use them, as outlined in the Finance Act, 1994. It emphasizes the need to determine whether a transaction involves the transfer of the right to use goods, referencing criteria established by the Supreme Court. The document highlights different leasing types, such as financial and operating leases, and their implications for service tax. It advises careful examination of contract terms against legal criteria and judicial precedents to assess service tax liability, without making general assumptions.
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