Hi
My client is engaged in leasing of EV's (Cars) without operator. We are using SAC code 9973 for the same. Under 9973, GST rate is the 'same rate of CGST/SGST as on supply of likewise goods in case of transfer of title'.
Queries:
1. Can we use 9973 sac code for the above transaction ?
2. If we can use 9973, can we charge 5% GST rate on the leasing transaction as it is the rate in case of sale of EV ?
Client Queries GST Rate for Leasing Electric Vehicles Under SAC Code 9973; 5% Rate Not Applicable for Leasing A client leasing electric vehicles (EVs) without operators inquires about using SAC code 9973 for GST purposes. They question whether they can apply a 5% GST rate, which is applicable for EV sales, to their leasing transactions. A respondent confirms that leasing vehicles falls under HSN 9973 and should be taxed at the rate applicable to the leased vehicle type. (AI Summary)
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