gst on old tractor exchange/sale

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how to calculate gst tractor dealer on old tractor exchange ,purchase or sale.
Replies (9)
18% I think
As per valuation rule

Suppose selling price of new tractor is 1lac, & exchange price of old tractor is 25k the calcuation will be done as follow

New tractor. 100000
GST 28 %. 28000
-------------
128000
Less : Old tract. 75000
-------------
net price 53000
========
Need to take value of old tractor after deducting ITC 5% per quarter or part of use from date of purchase
sale old tractor later then gst on wich amount. calcualte?
Sorry ... I think i misread the query ,

If you deales in 2nd hand tractor dealer , then the GST to be deposit on the profit Margin.
(sale 50000,. purchase 40000 Gst is applicable on 10000/-)

As per Rule 32(5) of the CGST Rules, 2017, where a taxable supply is provided by a person dealing in buying and selling of second hand goods i.e., used goods as such or after such minor processing which does not change the nature of the goods and where no input tax credit has been availed on the purchase of such goods, the value of supply shall be the difference between the selling price and the purchase price and where the value of such supply is negative, it shall be ignored.

GST will charge on the selling price of old tractor sold

if dealer sell new and old(exchanged) tractor then gst on old tractors ?

I you taken the old tractor under exchange then you have to paid 12% GST due to purchase from unregustered and takes the ITC of the same. On sale of new tractor you have to pay GST @ 18%.

The GST for an old tractor is about 25 percent, so now count the full price when buying or selling an old tractor. By the way, when I was still buying used tractors, the GST was about 18-20 percent, but that was about 10 years ago, so times are changing, and  the same tractor that I bought 10 years ago, I would now buy much cheaper. Well, this is my business. I hope my post will help you in your affairs. If you have any questions, then write to me in private messages. Good luck to you, my friend, see ya.


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