Gst on second hand lorries sale
This query is : Resolved
10 May 2019
We are dealing in Used Lorries, I want to know what is the rate of GST on Sale of Used Lorries under Marginal Scheme, and how to show to Exempted Value and Taxable Value in GSTR-3B & GSTR-1.
Exempted Value : Purchase Price of Lorry
Taxable Value : Margin amount (i.e, purchase - sales amount)
Exempted Value : Purchase Price of Lorry
Taxable Value : Margin amount (i.e, purchase - sales amount)
10 May 2019
18% GST payable on margin amount. Show taxable value as margin amount in gstr 3b and 1.
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