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gst on car sale
Partnership firm car sale to a agent dealer but sale value less then purchase value. Is gst applicable or not.
Replies (2)
Hi sanjeev,
There are specific calculations for second hand goods, and doing dat one can figure out the gst amount.
But it can be said that gst is applicable
For further assistance kindly reach out to us
HAPPY TO HELP!!
.
MOHIT JAGNANI
8820448170
There are specific calculations for second hand goods, and doing dat one can figure out the gst amount.
But it can be said that gst is applicable
For further assistance kindly reach out to us
HAPPY TO HELP!!
.
MOHIT JAGNANI
8820448170
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%
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%
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