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GST implication on sale of used Vehicle

Irfan Khan (CA FINAL) (494 Points)

24 September 2021  

Dear Experts,

a- What is the GST implication on sale of used vehicle if ITC not claimed if it is sold for a margin?

b- For calculating margin, which WDV to be taken (ie; WDV as per IT act or as per Companies act)

c- also which date of WDV to be considered, WDV as on date of supply or WDV at the end of relevant fina year?


 1 Replies

prasad Nilugal (Sr . Accountant and GST Practitioner . )   (7024 Points)
Replied 24 September 2021

If you registered under GST
a) GST applicable on Margin Sale value - Purchase value
b) For calculating margin you have to take WDV as per section 32 of the Income tax act.
c) WDV to be considered as on the Date of Supply .
please refer Notification 8/ 2018 dated 25/1/2018 and confirm.
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