SALE OF OLD CAR
This query is : Resolved
04 May 2020
Dear sir
Query as under
1. Car purchased prior to GST & No Vat credit availed WDV is 125000/-. Any tax liability will arise on sale in case of regular taxable person and composition taxable person?
2Car purchased in GST regime & No itc availed WDV is 125000/-. Any tax liability will arise on sale in case of regular taxable person and composition taxable person?
Kindly clarify with some calculation.
Thanks
Query as under
1. Car purchased prior to GST & No Vat credit availed WDV is 125000/-. Any tax liability will arise on sale in case of regular taxable person and composition taxable person?
2Car purchased in GST regime & No itc availed WDV is 125000/-. Any tax liability will arise on sale in case of regular taxable person and composition taxable person?
Kindly clarify with some calculation.
Thanks
04 May 2020
In both the cases 18% GST applicable on sale value in excess of WDV value. No GST applicable in case of sale less than WFV.
05 May 2020
Gst will be charged but gst is as per car variant petrol, diesel etc. And length in mm.
Pl, refer not. 08/2018 central tax rate prescribed for gst concessional rate.
Pl, refer not. 08/2018 central tax rate prescribed for gst concessional rate.
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