About used vehicle sale?
Mahendravarman Dhanalakshmi (66 Points)
07 March 2018
pls elaborate used vehicle sale to B2C,B2B
2 Replies
Dnyanesh Patade
(Practice)
(185 Points)
Replied 07 March 2018
There is Margin Scheme for Sale of second hand goods.
If ITC is availed availed then as per normal taxation.
And if ITC is not availed then Margin scheme can be opted i. E. Pay tax only on the difference of selling price less purchase price.
If ITC is availed availed then as per normal taxation.
And if ITC is not availed then Margin scheme can be opted i. E. Pay tax only on the difference of selling price less purchase price.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 07 March 2018
If vehicle is pertaining to vat regime then gst is applicable on the 65% of transaction value
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