My employer has CAR lease policy. Since we don't have office in Hyderabad the CAR was purchased, Invoiced and registered on my name. There is lease agreement between TATA capital and myself for this car. There is compulsory buyback of CAR with Residual Value of 15% after completion of 4 years. After 4 years do I need to pay GST on Residual value of 15% of the CAR. I believe the GST should not be charged since the car is registered in my name and as per the Definition of GST supply the car doesn't fall under supply since the title is on my name. Tata capital is charging GST on 15% of residual value which looks to be double taxation to me. If the CAR was in TATA name then it is valid supply. GST experts advise is appreciated.
CAclubindia
