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Friday 9 March 2012

Hire Purchase or Installment Sale


§Sale Price shall be valuable consideration payable to a person for such delivery.
§The amount of interest shall be reduced as per Rule 15.
§Further as per ETC order dated 5.10.10, in case M/s. Aay Pee Industries, hire charges on shuttering material shall be taxable @ 12.5% because they are not declared goods. Taxable turnover shall be the amount of hire charges. Against C forms tax on hire charges shall be 2%

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