GST on Residual Value in Company Car Lease
This query is : Resolved
17 September 2021
Hi,
I took a car on lease through my company. Service provider is ORIX.
The residual value is quoted at 21% of Ex-showroom price(which already has 29%) GST.
After the tenure, ORIX asks to pay RV + 29% GST again.
Is this double taxation?
I took a car on lease through my company. Service provider is ORIX.
The residual value is quoted at 21% of Ex-showroom price(which already has 29%) GST.
After the tenure, ORIX asks to pay RV + 29% GST again.
Is this double taxation?
22 September 2021
No. As such there is change of ownership from Orix to you.
So, GST is liable in this 'Supply"
So, GST is liable in this 'Supply"
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