Hello Sir,
Whether GST applicable on used cards purchase and sale
My querry: We are compnay name called giftosis online services pvtd ltd., we have purchased an used car from unregistered VAT/ST earlier 5 years back. Now, we are selling to unregistered GST individual, Whether GST applicable or Not?
If applicable, How and what is the percentage. please share me detailed answer at the earliest. Thank you very much in advance.
Yes, GST shall be applicable on sale of used cars if this car was part of your business asset earlier even though you have purchased it from a un-registered or registered dealer.
Rate of GST @ 28% (14% CGST+14% SGST).
Thank you Rakesh for your reply
Thank you Rakesh for your reply
CAclubindia
