Gst on sale of old vehicle
This query is : Resolved
14 March 2019
Company sold a vehicle used by it. Depreciation has been claimed on hat vehicle. Kindly clarify the applicability of GST on sale of used vehicle by a Company.
14 March 2019
GST is applicable on sale of old vehicle used by it . .
In Case Depreciation under Income Tax Act Availed: - Margin of supply shall be difference between Sale consideration and Written down Value and tax to be calculated on such Margin, and where the margin of such supply is negative, it shall be ignored.
GST Rate -18%
(i) on Old and used, petrol Liquefied petroleum gases (LPG) or compressed natural gas (CNG) driven motor vehicles of engine capacity of 1200 cc or more and of length of 4000 mm or more.
(ii) on Old and used, diesel driven motor vehicles of engine capacity of 1500 cc or more and of length of 4000 mm
(iii)on Old and used motor vehicles of engine capacity exceeding 1500 cc,
popularly known as Sports Utility Vehicles (SUVs) including utility vehicles.
GST-12% on All Old and used Vehicles other than those mentioned above (i to iii)
In Case Depreciation under Income Tax Act Availed: - Margin of supply shall be difference between Sale consideration and Written down Value and tax to be calculated on such Margin, and where the margin of such supply is negative, it shall be ignored.
GST Rate -18%
(i) on Old and used, petrol Liquefied petroleum gases (LPG) or compressed natural gas (CNG) driven motor vehicles of engine capacity of 1200 cc or more and of length of 4000 mm or more.
(ii) on Old and used, diesel driven motor vehicles of engine capacity of 1500 cc or more and of length of 4000 mm
(iii)on Old and used motor vehicles of engine capacity exceeding 1500 cc,
popularly known as Sports Utility Vehicles (SUVs) including utility vehicles.
GST-12% on All Old and used Vehicles other than those mentioned above (i to iii)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Refund of AY 22-23
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Inventory of finished goods
- TDR receipts for agreement holder
- Company Incorporation - CA and directors signing from different states
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Filing of Form 10BB instead of Filing Form 10B
- Refund AY 2012-13 and 2013-14
- DIRECT TAX CODE 2025
- MODEL FILLED AUDIT REPORT FOR TRUSTS IN FORM 10B
- 115TD on cancellation of 12A 80G Registration
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
Trending Online Classes
CAclubindia
