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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Eway bill generation from place other than registeted
- Condonation . E-Verification of last year return .
- Management System (IMS)
- EPF FULL & FINAL RULES IN 2026
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Rental income gst and it purpose
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
