Railway Wagon Lease Before May 16, 2008, Exempt from Service Tax as Tangible Goods Supply.
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....Supply of Tangible Goods - lease of railway wagons to the railways - inasmuch as the lease agreement for supply of tangible goods was one time event which acted prior to introduction of this taxable service w.e.f. 16.05.2008, no liability to pay service tax would arise against the assessee.....
TaxTMI