06 September 2023
Hello sir/ma'am, in case of a person dealing in sale of used vehicles and not claiming ITC, he will pay GST on diffrential amount between sale and purchase value. but he don't show GST on invoice, is my understanding correct? I have seen that CARS24 do not charge GST on their invoice.
06 September 2023
As per my view, As per the GST valuation Rules 32(5)- The taxable supply of second hand goods by a person, the valuation will be SP-CP and GST is payable on Margin Scheme. If margin is negative, NO GST is payable. Now charging of GST on tax invoice is separate provision under rule 46 which require that tax invoice to have the tax amount. Therefore GST should be charged on Tax invoice.
CAclubindia
