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Sale of used vehicle by vehicle dealer

Sivakumar D (Exceutive Accountant) (85 Points)

28 June 2018

How to calculate GST for demo vehicle by fresh vehicle dealer

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Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 28 June 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%