TaxTMI 
TaxTMI 
TaxTMI 
FG on Renting
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....G on Renting<br> Query (Issue) Started By: - Srivatsan Krishnamachari Dated:- 25-10-2016 Last Reply Date:- 27-10-2016 Central Excise<br>Got 3 Replies<br>Central Excise<br>Dear Sirs, Ours has finished goods of Pre-fab buildings. We received an order our products for (FG) renting purpose and returned back once the work is completed. What is the procedure need to fallow in relation to Excise/Service....
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.... tax to avoid audit complications. Thanks for your support Regards Srinivas Reply By Mahir S: The Reply: Sir, Your query could not be properly understood.. However, there does not appear to be any excise / service tax liability. Reply By Srivatsan Krishnamachari: The Reply: I will explain in details. We have received an order from our customer. Customer wish to take our material on rentin....
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....g basis at sites where as this material is finished goods for us. Customer is not ready to purchase the material. Since our product is building material, need to take to the customer site (out side our factory premises) and to be given for renting. In this transaction, how to meet excise or service tax obligations. Hope this is clear Thanking you, BR/Srinivas Reply By Mahir S: The Reply: Sir ....
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...., 1) You need to take permission from excise department for removal of finished goods outside factory premises without payment of duty. 2) You need to pay service tax for the rent received under the category of supply of tangible goods for providing setvices. 3) It would be better to start a trading firm and clear finished goods to such firm on payment of duty , who would thereafter supply su....
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....ch good on rent. Sent from my Samsung Galaxy smartphone.<br> Discussion Forum - Knowledge Sharing ....