Gst rate on lease rental of bmw car
This query is : Open
01 November 2017
Dear Sir,
Am working in a private company. we have received a bill from the vendor against the BMW car supplied on monthly lease rental basis. This BMW car is for company Managing director.
He charged CGST 9.1%, SGST 9.1 % and cess of 13%. on the lease rental value.
Is the above rates of gst and cess is correct ?
Can you share the soft copy of rates pls.
Thanks & Regards
KCR
Am working in a private company. we have received a bill from the vendor against the BMW car supplied on monthly lease rental basis. This BMW car is for company Managing director.
He charged CGST 9.1%, SGST 9.1 % and cess of 13%. on the lease rental value.
Is the above rates of gst and cess is correct ?
Can you share the soft copy of rates pls.
Thanks & Regards
KCR
01 November 2017
It seems the lessor is charging incorrect cess, 35% abatement on cess is available against cess @ 15%.
Cess should be 9.75%
Please see the given links
https://www.cbec.gov.in/resources//htdocs-cbec/gst/notification07-compensation-cess-rate.pdf
https://cleartax.in/s/gst-hsn-lookup
Cess should be 9.75%
Please see the given links
https://www.cbec.gov.in/resources//htdocs-cbec/gst/notification07-compensation-cess-rate.pdf
https://cleartax.in/s/gst-hsn-lookup
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