Gst rate on lease rental of bmw car

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This query is : Resolved

CHIRANJEEVI (Querist)

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

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)

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%

CHIRANJEEVI

CHIRANJEEVI (Querist)

01 November 2017 Can you make it clear what would the rate if it is financial lease.
Is any cess rate for lease in addition to GST rate ?

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)

01 November 2017 I have modified the reply.. please recheck and put further query in case needed.

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