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GST on sale of Second hand cars

This query is : Resolved 
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(Querist)
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,
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
27 December 2023 Margin, limit will be 20 lacs.
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Dipen

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Dipen (Querist)
28 December 2023 Limit 20 lacs is margin amount or sale value of cars?

Also what will be GST Rate on the same?

Regards,
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
28 December 2023 It's margin amount and GST rate is 18%.
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