Thanks ophirmaor, setting the egress_map(mapping sk_prio -> user_prio) inside the guest did the trick.
To add to knowledge base(although stated partly in documentation):
We don't use vconfig, what I got to work was set the socket priority option and map that priority(sk_prio) to a user priority(user_prio) using tc/tc_wrap.py inside the guest and mapped those user priority to hardware priority(traffic class) and control the rate.