Nischal Mittel (43 Points)
03 May 2018
CA Shivam Arora
(Chartered Accountant)
(2414 Points)
Replied 03 May 2018
On taxable value. Now taxable value differs from case to case
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 03 May 2018
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 03 May 2018
1. purchase in vat regime , sold in GST
As notification 37 cgst act dtd. 13/10/17)
if vehicle was purchased in vat regime but sold in GST regime
such vehicles when sold will attract GST on 65% transaction value (sale value)
2. Purchase in GST Regime
(As per the Notification 8/2018, CT(r))
In gst regime if any vehicle is sold & ITC was avail on that particular then GST is to charged on sale amount & if no ITC was avail, then on profit margin ( sale minus purchase) you have charge GST
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