https://www.taxtmi.com/caselaws?id=447738 Leasing of a gas genset was treated as a transfer of the right to use goods where the contract gave the lessee beneficial possession, exclusive use and effective control during the lease period. On that basis, the transaction was characterised as a deemed sale under Article 366(29A)(d) and VAT treatment applied. The service tax entry for supply of tangible goods for use was held inapplicable because it covers only arrangements in which possession and effective control remain with the supplier. The stated principle is that a transaction already falling within the VAT characterisation cannot be reclassified for service tax on the same facts. en-us Thu, 14 Dec 2023 00:00:00 +0530 Wed, 03 Jan 2024 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447738 Leasing of a gas genset was treated as a transfer of the right to use goods where the contract gave the lessee beneficial possession, exclusive use and effective control during the lease period. On that basis, the transaction was characterised as a deemed sale under Article 366(29A)(d) and VAT treatment applied. The service tax entry for supply of tangible goods for use was held inapplicable because it covers only arrangements in which possession and effective control remain with the supplier. The stated principle is that a transaction already falling within the VAT characterisation cannot be reclassified for service tax on the same facts. Case-Laws Service Tax Thu, 14 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447738