Sell of old vehicle

This query is : Resolved

mangesh chitnis (Querist)
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05 November 2018
I am about to sell my old used vehicle purchased in 2010 & in 2012. I am Registered under GST Act as a Manufacturer of different products. Do I need to make a GST invoice for such sell? What would be the GST % & HSN? & on what amount should it be charged i.e. on consideration value or on depreciated value?

1 car's consideration value > depreciated value & other's consideration value < depreciated value.

thanks in advance

Rajnish Singh

Rajnish Singh (Expert)
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08 November 2018 If Depreciation is claimed than Rate of GST either 18% or 12% (AS per CC of vehicle) on Margin of supply.

how to calculate margin on supply
consideration value less depreciated value

you have to pay gst on margin of supply.

mangesh chitnis

mangesh chitnis (Querist)
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15 November 2018 1 Vehicle's Consideration value is greater than the depreciated value, here GST will be payable on margin but other vehicle's Consideration value is lesser than depreciated value here the margin is negative, what to do in this case? Pls guide

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