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.
01 November 2017
If its just hiring the vehicle than GST would have been 5%. However, for Car leases, different slabs given based on cubic capacity of vehicles. Under GST, a mid-sized sedan taken on lease will be taxed at the same rate as a new car, i.e. 28% GST+ 15% cess i.e., 43%
CAclubindia
