Car Lease GST
This query is : Resolved
08 September 2021
Dear Sir,
I bought the car under lease plan on 2016 which is registered under SEZ zone, where the GST is not applied for EMI's now for the Residual Value (RV) of 25% (which is 1,15,000) for Wagnor car, the car lease team is asking to pay GST for 28% of around 35000 (including cess).
My query, Is GST applicable for RV which is under the SEZ zone as well what is the GST % (is it 28%)?
Thanks,
Suresh
I bought the car under lease plan on 2016 which is registered under SEZ zone, where the GST is not applied for EMI's now for the Residual Value (RV) of 25% (which is 1,15,000) for Wagnor car, the car lease team is asking to pay GST for 28% of around 35000 (including cess).
My query, Is GST applicable for RV which is under the SEZ zone as well what is the GST % (is it 28%)?
Thanks,
Suresh
09 September 2021
Car lease company needs to pay GST @12% on the old car and not the supplier who is SEZ.
09 September 2021
Thanks for your reply sir, one clarification, i bought new car wagnor on 2016 before GST was there, but the car is registered under the SEZ zone, now the car lease company is charging 28+1 % (GST + CESS) for the RV value which is 25% is 1,15,545. I am hoping your ansser is holds good for this query also.
13 September 2021
Please sir, can you provide answer for my query? Thanks in Advance!
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