Gst on sale of used vehicle
Pyare Lal Verma (CA) (27 Points)
14 September 2018
whether Gst will be applicable on sale of used vehicle ?
4 Replies
Rohit Tibrewal
(Student & Senior Accountant)
(3193 Points)
Replied 14 September 2018
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%
Rohit Tibrewal
(Student & Senior Accountant)
(3193 Points)
Replied 14 September 2018
Sorry aapka copy Kia @ Pankaj Sir
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