Sir, Incase of Renting of motor vehicle, under RCM, at what rate (at 5% or 12% or normal rate of 18%) that the body corporate should pay tax? please guide.
Frah Saeed Answered question June 20, 2020
In case you are a body corporate who is receiving renting of motor vehicle services from a non body corporate who is not charging 12% in its bill, RCM will apply. You need to pay tax @ 5% only under RCM.
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Frah Saeed Answered question June 20, 2020