Faiveley transport rail Technologies India Pvt Ltd.

The Ruling Pronounced by the AAR in Advance Ruling No. 125 /AAR / 2023 dated 20.12.2023 stands modified to the extent that only the actual value in monetary terms extended to the employee concerned in the course of or in relation to employment, qualifies as a 'perquisite', and it squarely falls within the ambit of entry No.1 of Schedule III of the CGST/TNGST Acts, 2017. Whereas, the car lease amount recovered in actual terms by the appellant-company while extending the facility of car to its employees, cannot be considered as a 'perquisite' and accordingly taxes under GST are applicable on the same, as it does not get covered under the entry No.1 of Schedule III of the CGST/TNGST Acts, 2017