Car Lease GST

This query is : Resolved

Suresh Kumar (Querist)
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08 September 2021 Dear Sir,

I bought the car under lease plan on 2016 which is registered under SEZ zone, where the GST is not applied for EMI's now for the Residual Value (RV) of 25% (which is 1,15,000) for Wagnor car, the car lease team is asking to pay GST for 28% of around 35000 (including cess).

My query, Is GST applicable for RV which is under the SEZ zone as well what is the GST % (is it 28%)?

Thanks,
Suresh

Lekhraj sood

Lekhraj sood (Expert)
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09 September 2021 Car lease company needs to pay GST @12% on the old car and not the supplier who is SEZ.

Suresh Kumar

Suresh Kumar (Querist)
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09 September 2021 Thanks for your reply sir, one clarification, i bought new car wagnor on 2016 before GST was there, but the car is registered under the SEZ zone, now the car lease company is charging 28+1 % (GST + CESS) for the RV value which is 25% is 1,15,545. I am hoping your ansser is holds good for this query also.

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Suresh Kumar

Suresh Kumar (Querist)
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13 September 2021 Please sir, can you provide answer for my query? Thanks in Advance!