Sir, what is the tax rate in the gst for used cars. Car registered in the name of the Director of the company and car shown in the books of pvt ltd company. What is the gst liability on sale of car?
If vehicle was purchased in vat regime then such vehicles when sold will attract GST of 65% of the applicable GST) rate, including compensation cess. Plz read notification 37 cgst act dtd. 13/10/17
If purchase in GST regime & ITC avail, GST will be charge on transaction value & if ITC is not avail then GST is to be deposit on Margin (sale -purchase)
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