GST on sale of Second hand cars
This query is : Resolved
27 December 2023
Dear Experts,
If an individual deals in Purchase and sale of used cars , then GST will be applicable on margin or sale amount?
Also in either case what will be the threshold limit for GST registration? I.e If margin then limit will be 20 lakhs of Profit?
Regards,
If an individual deals in Purchase and sale of used cars , then GST will be applicable on margin or sale amount?
Also in either case what will be the threshold limit for GST registration? I.e If margin then limit will be 20 lakhs of Profit?
Regards,
27 December 2023
Margin, limit will be 20 lacs.
28 December 2023
Limit 20 lacs is margin amount or sale value of cars?
Also what will be GST Rate on the same?
Regards,
Also what will be GST Rate on the same?
Regards,
28 December 2023
It's margin amount and GST rate is 18%.
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