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Composition scheme (Query)

Pratik Joshi (73 Points)

11 April 2018

If a composition dealer sells a used car to a registered dealer or an un registered dealer, at what rate he should levy GST ??

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Pankaj Rawat (GST Practitioner) (55057 Points)
Replied 12 April 2018

He cannot levy GST

The assessble value shall be calculated based on Notification 8/2018 CT(R)... tax payable @ 1%

As per notification if any input is claim at the of purchase vehicle then gst is levy on transaction value of sale,
else on difference of sale minus purchase on marign (profit)

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Pratik Joshi (73 Points)
Replied 12 April 2018

Ok, Thankyou sir !!!

Deepak Soni (7 Points)
Replied 18 April 2018

hello sir if you dont mind than what is the notification no.???? @ pankaj rawat

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Pankaj Rawat (GST Practitioner) (55057 Points)
Replied 18 April 2018

1. NOTIFICATION 37 CT (RATE) , DT.13/10/2017 : IF VEHICHEL PURCHASE IN VAT REGIME & SOLD IN GST REGIME, GST WILL BE ON 65% OF TRANSACTION VALUE

2. NOTIFICATON 8/2018 CT (RATE) : AS EXPLAIND ABOVE

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Ruchi Goel (84 Points)
Replied 11 April 2018

notification no.8/2018 central tax(rate) dt.25/01/2018 will be applicable to him

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