Margin computation under margin scheme in gst
This query is : Resolved
01 March 2018
Hi all
I am dealing second-hand car business, suppose I have purchased a used car for Rs. 15 lakh and additionally spend some repairing, reconditioning and insurance expense for Rs.1 lakh and I sold the same for Rs.18 lakh What will be my Margin?
18 lakh - 15 lakh = 3Lakh
or
18lakh-15lakh-1lakh = 2 Lakh
I am dealing second-hand car business, suppose I have purchased a used car for Rs. 15 lakh and additionally spend some repairing, reconditioning and insurance expense for Rs.1 lakh and I sold the same for Rs.18 lakh What will be my Margin?
18 lakh - 15 lakh = 3Lakh
or
18lakh-15lakh-1lakh = 2 Lakh
01 March 2018
3 lacs will be the margin for calculating the GST amount in case you have opted for margin scheme
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