Dear All, Does anyone has Car scheme for employees with the rules of GST in detail?
We have an agreement for car scheme but as per GST we should apply GST every month for employees who are buying car from the company. But as per HR and organization we feel its a not a employee friendly scheme because if every month employee has to pay GST on car what is the benefit for employees to buy car from company.
If anyone can help me with employee friendly car scheme it would be great
From India, Nagpur
We have an agreement for car scheme but as per GST we should apply GST every month for employees who are buying car from the company. But as per HR and organization we feel its a not a employee friendly scheme because if every month employee has to pay GST on car what is the benefit for employees to buy car from company.
If anyone can help me with employee friendly car scheme it would be great
From India, Nagpur
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Your question is not clear.
GST is a complex law, specially with reference to motor vehicle
Giving just a small cryptic query will not give you the right answer.
You need to talk to a GST Expert and give him the full details if you want to be safe and proper.
If you wish, you may get in touch with my office for the same (paid assignment)
From India, Mumbai
2375GST is a complex law, specially with reference to motor vehicle
Giving just a small cryptic query will not give you the right answer.
You need to talk to a GST Expert and give him the full details if you want to be safe and proper.
If you wish, you may get in touch with my office for the same (paid assignment)
From India, Mumbai
It is not clear from the original post what is the car scheme. Is it that the organization is a car manufacturing company? Is it selling old company cars to the employees?
Now let us think about GST. If the organization is covered under GST and raised any invoice to sale the car, then GST will automatically attract.
Many organizations are providing car facility to higher level employees. Those employees are asked to purchase car of their own and the organization provides car loan at zero interest or subsidized interest rate. Organization is also providing fuel reimbursement cost, driver's salary etc. ITAX in the hand of the employees is determined as per ITAX act & rule.
S K Bandyopadhyay ( WB, Howrah)
From India, New Delhi
Now let us think about GST. If the organization is covered under GST and raised any invoice to sale the car, then GST will automatically attract.
Many organizations are providing car facility to higher level employees. Those employees are asked to purchase car of their own and the organization provides car loan at zero interest or subsidized interest rate. Organization is also providing fuel reimbursement cost, driver's salary etc. ITAX in the hand of the employees is determined as per ITAX act & rule.
S K Bandyopadhyay ( WB, Howrah)
From India, New Delhi
Composition Scheme under under GST.docx
Order No. 1-2018 Extension of date for submitting the statement in FORM GST TRAN-2.pdf