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Car from employer GST, Goods and Services Tax - GST

Issue Id: - 115304
Dated: 10-8-2019
By:- Ashok kumar
Car from employer GST

  • Contents

Hi ,

I have taken a car through my company on lease, company provided to me by taking from another financial company and at the time of separation , i have to purchase the same. what will be GST obligation.

thanks

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Posts / Replies

Showing Replies 1 to 8 of 8 Records

1 Dated: 11-8-2019
By:- KASTURI SETHI

This supply is in the course of business or furtherance of business and hence taxable.


2 Dated: 11-8-2019
By:- Ashok kumar

They are chaging 29.25% gst , it it right


3 Dated: 11-8-2019
By:- KASTURI SETHI

This is GST rate (28 % = 14 +14%) for new vehicle. See Notification No.1/17-CT(Rate) dated 28.6.17 as amended from time to time up to 31.12.2018. Serial No.165 (8703).

And see notification no.5/17-CC (Rate) dated 11.9.17 for Cess.


4 Dated: 12-8-2019
By:- Ganeshan Kalyani

You may refer Notification no.8/2018-CTR dated 25.01.2018.


5 Dated: 12-8-2019
By:- Ashok kumar

Thanks but can you just help me understand whether they are charging the correct percentage.


6 Dated: 13-8-2019
By:- KASTURI SETHI

GST Rate 29.25% is correct. For old & used car follow the reply of Sh.Ganeshan Kalyani Ji. You are to decide from both options/Notifications.


7 Dated: 14-8-2019
By:- SHIVAKUMAR GOKARNESAN

Sir

If thecar is a business asset in the books of the employer and employer claimed depreciation for income tax assessments then the taxable value for such used car shall be “ the difference between the depreciated value as onthe date of sale and actual sale value realised from buyer. If if the difference is positive GST 18% or 12% ( see Notifications Jan 2018) is payable on the difference. If the difference is negative you may ignore.

However the higher purchase agreement is to be seen for conditions if any to decide sale of new car or used car

Gokarnesan

Advocate


8 Dated: 14-8-2019
By:- Ganeshan Kalyani

Depreciation to be calculated as or income tax rates.


1

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