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car sale invoicing

durgesh (student) (222 Points)

18 May 2019

how to prepare old car sale invoice...person other than dealer in cars.....should 35% exemption also be mentiones in invoice

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Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 19 May 2019

35% Exemption ???? there is no such exemption in GST .

As per Notification 8/2018 CT (r)

Vehicle of Vat Regime Sold in GST Regime :
GST is applicable on Profit Margin (Sale-Puchase )

Vehicle Purchased & Sold in GST Regime :
If ITC claim , then GST is on transaction Value
If ITC is not claim , then GST is on Profit Margin (Sale - Purchase)

GST Rate 12 % & 18% is applicable as per CC engine of vehicle mentioned in Notification.

More then 1500 CC , leanth exceeding 4000 MM, GST is 18%

Else ,.. 12%

Note: Government also Exempted the Cess applicable on sale of Used vehicle through Notification No. 1/2018 Compensation Cess Rateunder entry no.42A

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