GST for used vehicle

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23
36 Points Posted on 01 December 2021
Can anyone share how gst applicable for dealer who's business is purchase and sale of used two wheeler vehicles.
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On 01 December 2021 at 13:02 Report
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This discussion clarifies the Goods and Services Tax (GST) application for dealers selling used two-wheeler vehicles. If your annual turnover exceeds Rs. 40 Lakhs, GST registration is mandatory. The applicable GST rate is 12%, calculated on the profit margin, which is defined as the difference between the selling price and the purchase price of the vehicle.

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Employee Private
1913 Points Posted on 01 December 2021

If your aggregate turnover crossed Rs.40.00 Lac, you have to take GST registration and applicable rate will be 12% on the margin. 

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On 01 December 2021 at 18:14
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23
36 Points Posted on 01 December 2021
Can you please elaborate what margin means ?
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On 01 December 2021 at 19:04
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Employee Private
1913 Points Posted on 02 December 2021
The difference between the selling price and the purchase price.
Also you may refer Notification No.08/2018-Central Tax Rate, Dt.25th January, 2018.
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On 02 December 2021 at 10:37

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