Taxability of sale of used vehicle by company

If you sale the asset then its reduced 5 par qtr for itc

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
Else GST is on Profit Margin (Sale - Purchase)
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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%

As per Notification 8/2018 CT (r) Vehicle of Vat Regime Sold in GST Regime : GST is applicable on Profit Margin (Sale-Puchase ) 

Whether Sale Consideration Less Purchase Price has to be taken or the Written Down Value as per Income Tax Act, 1961 has to be taken

@ hemanth

correct .................................................

purchase price or written down value from both what have to be taken for calculating margin

the written down value (the value of asset in books)