Composition scheme for used vehicles dealer

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Pratik Swarnkar (Querist)
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11 June 2018 What will be the turnover on which tax is to be calculated under composition scheme in case of a used vehicle dealer purchasing from unregistered person and selling to unregistered person.
Will it be the sale value of vehicle or the margin(sale price-purchase price) as per rule 32(5).

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Gst HELP PANEL (Expert)
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11 June 2018 YOU HAVE TO PAY TAX ON DIFFERENCE BETWEEN PURCHASE VALUE-SALE VALUE.

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Pratik Swarnkar

Pratik Swarnkar (Querist)
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12 June 2018 Thanks for the reply

Pratik Swarnkar

Pratik Swarnkar (Querist)
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12 June 2018 But can i take aggregate of margins to calculate % of tax under composition scheme

Gst HELP PANEL

Gst HELP PANEL (Expert)
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12 June 2018 DEAR PLEASE SORRY BUT I DID NOT GET WHAT R YOU TRYING TO ASK. PLEASE CLEAR AGAIN.

Pratik Swarnkar

Pratik Swarnkar (Querist)
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12 June 2018 I am asking whether I have to pay 1% tax under composition scheme on which amount
Sale value or total margin (total sales-total purchases)

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Gst HELP PANEL (Expert)
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12 June 2018 PAY TAX ON total sales-total purchases as per rule 32(5).

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