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Sale of Motar vehicle

12 March 2018

I have use Motar vehicle in business purpose and Sale at time Gst applicable or not or how much Gst applicable and tratment on account.pls help Mi.. .

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2 Replies

G Vijaya Kumar (Audit Assistant) (556 Points)
Replied 12 March 2018

The GST & Cess applicable on sale of old motor vehicle & the gst rate is depend upon the vehicle engine capacity.

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Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 12 March 2018

Sir
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

In gst regime if any fixed asset 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 u have charge GST