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GST applicability on sale of Used Vehicle

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Sourabh Katiyar

144 Points Posted on 20 June 2024

Respected Members,

I have purchase a Vehicle in may 2023 worth Rs. 30 lakhs, and i have not claimed its ITC credit.
WDV for year ended 31.03.2024 was rs. 25.5 lakhs. Now in month of May 2024 i have sold the car for Rs. 28 lakhs.
Do I need to pay GST on the transaction and what will be the Rate of GST.
if Yes how will i Show the same in GST returns.

Pls Advice.

Replies (2)

Quick Summary

A user purchased a car in May 2023 for Rs. 30 lakhs, not claiming ITC. By March 2024, its WDV was Rs. 25.5 lakhs. They are now selling it in May 2024 for Rs. 28 lakhs and need advice on GST applicability, the correct rate, and how to report it in their GST returns, referencing specific notifications and sections of the GST Act.