sale purchases of old Vhicle
Faheem Akram (802 Points)
25 July 2017
i have a business of sale of auction vhicle so what is process under GST
2 Replies
Manoj Agarwal
(Properitro)
(34 Points)
Replied 25 July 2017
Under valuation rule you have an option to pay GST only on: Sale value - purchase value = taxable value. Provided you don't claim any input tax credit.
Further if you follow marginal scheme you are exempt from paying tax on reverse charge mechanism if you purchase second hand vehicle within state.
Further if you follow marginal scheme you are exempt from paying tax on reverse charge mechanism if you purchase second hand vehicle within state.
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