What were the taxes applicable in leasing an automobile before GST?
Sir, According to the finance ministry statement dated Oct 12, 2017, Leasing of vehicles purchased and leased prior to July 1, 2017, would attract GST at a rate equal to 65 per cent of the applicable GST rate (including Compensation Cess) for a period of 3 years. The lessor should have a GST registration in this case. Hope this answer must be helpful.