GST Rate @ 65% of Normal Rate

 

Normally on Leasing of Cars,GST is applicable as follows

Normal Car Normal Car SUV CAR
AMT      
CGST      
SGST      
CESS      

 

However Government has reduced GST Rate in certain cases

Car purchased before 1 july 2017

No Input of Vat or Excise was taken

Lease Agreement was started before 1 july 2017

 

In this case,GST will be charged as follows

Normal Car Normal Car SUV CAR
AMT        
CGST        
SGST        
CESS        
  1. GST - Goods and Services Tax, India
  2. GST Computation & Accounting

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.