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9 pilgrims burnt to death as bus catches fire near Nuh in HaryanaSpain denies dock permission to ship carrying arms to Israel12 Unicorns, over 125 startups commit to onboarding ONDCBEML secures Rs 250 crore order from Northern Coal FieldsBharat Parv celebration takes centerstage at Cannes Film FestivalSteel industry should work towards reducing emissions: Steel SecretaryI-T - Additions framed on account of unexplained cash credit & unexplained money, are not tenable where cash deposits & withdrawals were of personal funds & were done through banking channels: ITATUS says not too many vibrant democracies in the world than IndiaI-T - Benefit of section 11(2) can not be denied merely on reasoning that form 10 is filed belatedly: ITATSwati Maliwal case takes new turn with Kejriwal’s assistant Bibhav Kumar filing FIR against herI-T- Unexplained money - Additions sustained as assessee unable to provide proper explanation for amount withdrawn & subsequently deposited into same bank account: ITATIndia says Chabahar Port to benefit Central Asia and AfghanistanRussia seizes Italy’s UniCredit assets worth USD 463 mnCus - Order re-determining transaction value based on CRCL test report is not correct & hence unsustainable: CESTATPutin says NO to Macron’s call for ceasefire in Ukraine during OlympicsCus - If price is not sole consideration for sale, then transaction value can be rejected under Rule 8 of Export Valuation Rules & then must be redetermined sequentially through Rules 4 to 6: CESTATBrazil to host women’s World Cup 2027Cus - If there is additional consideration for sale, then proper course for the officer is to reject transaction value & re-determine value under Rule 4 or Rule 5 or Rule 6 sequentially: CESTATSC upholds ICAI rules capping number of audits per year

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Treading the GST Path XXX What is


RENTING A CAR

Renting a car means transfer of right to use to someone, which is a deemed sale. In the case of renting a car, I request the author to clarify whether compensatory cess is applicable or not. Renting a car is different from rent-a-cab service. A company can take a car in rental of their utilization in furtherance of their business. The renting activity is neither covered under 17(5)(a) or (b)(iii) of the CGST Act. In other words it is not covered under exclusion class for ITC. I request the author to share his views in this aspect, as the author has viewed that ITC is eligible for vehicles of having capacity of more than 12 passengers.
R. Vaidyanathan - Consultant Indirect taxation.

Ramadoss Vaidyanathan 26/08/2017

 

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