Composition Scheme for Second hand bike dealer
Rathan D Gowda (16 Points)
26 December 2021
Second hand bike dealer is eligible for composition scheme or not
4 Replies
Tanuj Chandra Saxenaa
(Company Secretary)
(7075 Points)
Replied 26 December 2021
Person dealing in Second hand goods cannot opt the composition scheme and pay tax on the value prescribed under Rule 32(5)
prasad Nilugal
( GST Practitioner & Accounts )
(14811 Points)
Replied 26 December 2021
As per rule 32(5) of the CGST rules , if no input tax credit availed on the purchase of such goods , then GST will be on difference between selling price and purchase price . So you have to pay GST on Margin.
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