gst applicable on used cars??
yash sangtani (Student) (45 Points)
08 June 2017
sir can i know abt the rate of gst on used car....
yash sangtani (Student) (45 Points)
08 June 2017
Preeti (Team_GSTSoln)
(Team GST Experts)
(1926 Points)
Replied 09 June 2017
yash sangtani
(Student)
(45 Points)
Replied 09 June 2017
Preeti (Team_GSTSoln)
(Team GST Experts)
(1926 Points)
Replied 09 June 2017
dear yash it is easy way of invoicing
if u want to act like trader- tell me whether u have tin
further u have to take invoices for purcahse of car pay gst& issue invoice for sale & charge gst at the rate applicable to fresh cars
you must go through value of supply rules-rule 5
yash sangtani
(Student)
(45 Points)
Replied 09 June 2017
Preeti (Team_GSTSoln)
(Team GST Experts)
(1926 Points)
Replied 09 June 2017
no your clients are indivuduals. thus q of tds on commission doesnt arise here
yash sangtani
(Student)
(45 Points)
Replied 09 June 2017
Preeti (Team_GSTSoln)
(Team GST Experts)
(1926 Points)
Replied 09 June 2017
| Originally posted by : yash sangtani | ||
 |
i may need any other help so please be in touch .... i m ca finals student and i want to help my dad in his stuff .... but my attempt is in nov18 so nt studied gst yet ... n more offen having a doubt of old and new syllabus |  |
as much as i can
yash sangtani
(Student)
(45 Points)
Replied 09 June 2017
deepak bohra
(2 Points)
Replied 11 June 2017
Hi, your post is pretty interesting. I have a few queries and i would be glad if you could please helps answer them?
1. What is the exact rate of GST applicable on sale of used car, will every state have a different rate for this and what is it for TN
2. I buy the car from an individual for 3 lacs after a few days identify a buyer (another individual) and sell it for 3.25 lacs, what is the exact amount of tax i have to pay in this case, also does the sale receipt i give to the buyer include the GST i am paying towards the car, if yes, then the buyer will come to know the margin which i as a dealer make on the car. Can you pls clarify about this
3. In the used car trade, after purchase we spend on refurbishment, taking same above case scenario, if i buy the car at 3lacs and then spend 10k on painting and then sell it for 3.25 lacs, i make 15k on the car, how much should i pay as GST
4. Is a TIN necessary
5. Sometime car sale is done purely on comission basis wherein we link a direct seller and buyer and just take a 2% commission on the total deal value, how will GST play a part here.
Apologies if the questions are too many. If you could help answer will be grateful and also useful for many who have doubts on how to go about above case scenarios. If not possible, no worries, thanks anyway.
Regards
Deepak
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