Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Rate of GST

Murugesan (Asst. Manager - Finance) (180 Points)

06 July 2018

We are a Private Limited company. Kindly let us confirm what is the rate of GST for the second sales of Motor Vehicle (TVS XL Super)

Reply
Follow
Share

1 Replies

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 06 July 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%

1 Like