Hi Sir, Query Mr X (Individual) gives his vehicle to FMCLtd on Rent for Rs 25000 Per Month. FMCLtd (Faciliaty Managment Company) further rent that car to CLIENT Ltd. (Company) and charges Rs 28000

This question was asked in Journal Entries for Normal Charge and Reverse Charge

Hi Sir,

Query

Mr X (Individual) gives his vehicle to FMC Ltd on Rent for Rs 25000 Per Month.

FMC Ltd (Faciliaty Managment Company) further rent that car to CLIENT Ltd. (Company) and charges Rs 28000 Per Month.

FMC Ltd is registered under Rent-A-Cab Service.

What will be the ST impact / RCM Impact / CENVAT/ Journal Entries in books of FMC Ltd.

Please Guide.

ankush nayyar

Jan. 3, 2017, 2:04 p.m.