GST applicability for resale of vehicle
This query is : Resolved
29 November 2022
Which GST rate is applicable for resale of Lorry?
Thanks in advance.
Thanks in advance.
29 November 2022
In case of dealers 18% GST applicable on profit margin.
29 November 2022
Other than a dealer 'what is the GST Rate" for sale of used lorry?
29 November 2022
In case ITC is availed 28% GST applicable on sale value.
29 November 2022
If it is purchased before GST applies? no ITC claimed.
Then, What is rate of GST?
Thanks in advance.
Then, What is rate of GST?
Thanks in advance.
29 November 2022
18% on margin amount (sale price less WDV as per income tax).
https://cbic-gst.gov.in/pdf/central-tax-rate/notfctn-08-2018-cgst-rate-english.pdf
https://cbic-gst.gov.in/pdf/central-tax-rate/notfctn-08-2018-cgst-rate-english.pdf
29 November 2022
I agree with the above reply
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