Sell of old vehicle
This query is : Resolved
05 November 2018
I am about to sell my old used vehicle purchased in 2010 & in 2012. I am Registered under GST Act as a Manufacturer of different products. Do I need to make a GST invoice for such sell? What would be the GST % & HSN? & on what amount should it be charged i.e. on consideration value or on depreciated value?
1 car's consideration value > depreciated value & other's consideration value < depreciated value.
thanks in advance
I am about to sell my old used vehicle purchased in 2010 & in 2012. I am Registered under GST Act as a Manufacturer of different products. Do I need to make a GST invoice for such sell? What would be the GST % & HSN? & on what amount should it be charged i.e. on consideration value or on depreciated value?
1 car's consideration value > depreciated value & other's consideration value < depreciated value.
thanks in advance
08 November 2018
If Depreciation is claimed than Rate of GST either 18% or 12% (AS per CC of vehicle) on Margin of supply.
how to calculate margin on supply
consideration value less depreciated value
you have to pay gst on margin of supply.
how to calculate margin on supply
consideration value less depreciated value
you have to pay gst on margin of supply.
15 November 2018
1 Vehicle's Consideration value is greater than the depreciated value, here GST will be payable on margin but other vehicle's Consideration value is lesser than depreciated value here the margin is negative, what to do in this case? Pls guide
19 October 2021
No GST payable on second vehicle ,,,
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Banking Related Issue
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
