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gst rate
gst rate applicable on contract of 3 years on hiring of vehicle.. in which the vehicle can be used only as per terms of contract...
Replies (4)
Transfer of right to use vehicle without transfer of ownership is considered as supply of service. However, the rate of tax shall be determined as per the nature of goods. In other words, the tax rate as applicable to supply of such goods is applciable on transfer of right to use goods.
Will it be considered as renting of motor cab??
No. it is not rent a cab.
That means the rate is 18%. Because 5% without itc nd 12% with itc is applicable for renting of motor vehicle or transport of passengers.
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