old car trading business
This query is : Resolved
26 October 2017
on old car business gst is applicable on margin 28%.
but my concern is
1. in GST return the bill value is margin amount ?
2. may i opt composition scheme?
3. If I opt composition scheme then for limit of 1 crore what is considerable value ( margin on trade or sale price of car)
Pls help
26 October 2017
1) Bill value is your total invoice value including your margin
2) Yes, you can opt for composition scheme
3) Your sales turnover including margin
2) Yes, you can opt for composition scheme
3) Your sales turnover including margin
26 October 2017
Then how GST calculated in sheet. Because in return tax is calculated on sale value . which is inclusive of margin.
09 August 2024
https://docs.google.com/document/d/1Gc4HbnG1W9GzNQGTjmmHabIiq55M0oiOmwZ4m3gWdUk/edit?usp=sharing
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