GST for used vehicle
poorna chandra kj (23) (32 Points)
01 December 2021
Can anyone share how gst applicable for dealer who's business is purchase and sale of used two wheeler vehicles.
3 Replies
Rajendra Prasad
(Employee Private)
(1901 Points)
Replied 01 December 2021
If your aggregate turnover crossed Rs.40.00 Lac, you have to take GST registration and applicable rate will be 12% on the margin.
poorna chandra kj
(23)
(32 Points)
Replied 01 December 2021
Can you please elaborate what margin means ?
Rajendra Prasad
(Employee Private)
(1901 Points)
Replied 02 December 2021
The difference between the selling price and the purchase price.
Also you may refer Notification No.08/2018-Central Tax Rate, Dt.25th January, 2018.
Also you may refer Notification No.08/2018-Central Tax Rate, Dt.25th January, 2018.
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