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GST on sales of Old Motor Vehicles

This query is : Resolved 

Respected Experts,
We have purchased 2 Lorry, 1 before GST regime and 2nd after GST regime.

In case 1, we have taken ITC of Excise Duty & VAT.
In case 2, we have taken ITC of GST.

Should we calculate Taxable value by considering Notf. No. 8/2018 dtd. 25-01-2018 or we have
to calculate Taxable value after deducted per quarter exemption i.e. 2.5% per quarter.

Kindly suggest.

Rakesh Sharma

The above notification not applicable in view of ITC availed.
In case a person was eligible to avail and has in fact availed input tax credit on motor vehicle which he is now selling, normal GST rate of 28% plus 17% / 20% / 22% towards Compensation Cess, as applicable need to be charged and paid on sale of such motor vehicle.

Sir, we are manufacturer and want to sale old lorry on which we have taken GST. What will be the tax rate, also can we claim quarterly exemption i.e. 5% per quarter. Please advise Sir.

It's 28% plus cess given above in view of ITC availed.
No quarterly exemption.

Thanks a lot Sir for your valuable reply. One more thing I want to know that can we sale the Lorry for Rs. 4.5 Lacs as per its condition, purchase value was Rs. 19.10 Lacs and used period about 4.5 Years or we have to reverse all the taken ITC. Waiting for your valuable & ultimate reply Sir.

Yes, you can sell it for 4.50 lacs no need for reversal of ITC.

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