Dear experts,
I want to sold old car and I have claimed depreciation as per income tax act and ownership of business is proprietary (Manufacturing of plastic material) . I have purchased car 8th year ago so my quire is Gst applicable to me for sale of old car and please tell me how I will calculate taxable value for charged gst.
Thanks ®ards
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Gst on sale of old car
Replies (5)
https://www.gstindia.com/applicability-of-gst-on-sale-of-used-old-motor-vehicle/
Gst applicable only profit but only intra state
cess will applicable
Dear Yogesh it depends when you have sold.
Where sold on or after 25th January 2018, then refer notification 08/2018-CT(R) & 01/2018-CC(R):
Rate will be 18%/12% without cess - based upon cubic capacity and length of the car.
If sold earlier suggest you to refer to my article published in Taxmanagement India: https://www.taxmanagementindia.com/visitor/detail_article.asp?ArticleID=8338&kw=GST-on-Used-Cars
good clarification and information
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