Dear sir /Madam,
we have sold the company car and have to make an invoice of car sold invoice...
requesting to share the GST % for the same
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used card sold .. required gst rate
Replies (5)
The expression 'supply' as per Sec 7(1) of CGST Act, 2017 includes sale, lease, disposal. Therefore sale/disposal of old or used vehicle by a registered dealer for a consideration, is in the course or furtherance of business and hence it will qualify to be a supply. So, GST is applicable.
ok. what is the GST %
Rate of GST on Supply of Old/Used Vehicles:
Notification No. 8/2018 -Central Tax (Rate) Dated 25-01-2018
| S,No | Chapter Heading | Descripttion of Goods |
GST Rates (CGST+SGST |
| 1 |
8703 |
Old & used petrol, LPG or CNG driven motor vehicle having engine capacity >=1200CC & length of >=4000mm |
18% |
| 2 |
8703 |
Old & used diesel driven motor vehicle having engine capacity >=1500CC & length of 4000mm |
18% |
| 3 |
8703 |
Old & used motor vehicle of engine capacity >1500CC (SUVs & UVs) |
18% |
| 4 | 87 |
Old & used motor vehicle other than covered in Sl No.1 to 3 |
12% |
thanks for replying
no gst on used motor vehicle if no ITC had been taken and car is sold at price less than or equal to original cost.
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