GST and Tax Implications on Purchase of used Vehicle
This query is : Resolved
12 February 2022
Sir,
I have purchase used motor vehicle from an unregistered person for an amount of Rs. 30 Lakh through a sale agreement constituted in a stamp paper. what was the implications in respect of the above transaction?. Purchase of motor vehicle in excess of Rs. 10 lakh will attract TCS provision. Whether such provision attracts here?. Whether any GST impact on the said transaction as the seller was an unregistered person and RCM other than notified cases not prevailing as if now.
I have purchase used motor vehicle from an unregistered person for an amount of Rs. 30 Lakh through a sale agreement constituted in a stamp paper. what was the implications in respect of the above transaction?. Purchase of motor vehicle in excess of Rs. 10 lakh will attract TCS provision. Whether such provision attracts here?. Whether any GST impact on the said transaction as the seller was an unregistered person and RCM other than notified cases not prevailing as if now.
CA R SEETHARAMAN
(Expert)
12 February 2022
TCS provisions not applicable in this case.
GST RCM not applicable in this case.
GST RCM not applicable in this case.
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