prasad Nilugal
( GST Practitioner & Accounts )
(14230 Points)
Replied 24 January 2019
The person to whom you selling old Vehicle is under GST registered or not ?.
Pankaj Rawat
(GST Practitioner)
(55037 Points)
Replied 24 January 2019
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 25 January 2019
gst is only applicable on margin profit @ 12 or 18 % as applicable.
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4515 Points)
Replied 25 January 2019
Dear Smpat
It depends when you have sold. Where sold on or after 25th January 2018, then refer notification 08/2018-CT(R) & 01/2018-CC(R): Rate will be 18%/12% without cess - based upon cubic capacity and length of the car.
Also, considering you are not a dealer and credit not claimed upon purchase in 2016, then WDV as on date of supply needs to be ascertained. Difference between the sales price and WDV is the margin, upon which GST is liable.
If sold earlier suggest you to refer to my article published in Taxmanagement India: https://www.taxmanagementindia.com/visitor/detail_article.asp?ArticleID=8338&kw=GST-on-Used-Cars
Read more at: https://www.caclubindia.com/forum/gst-on-sale-of-old-car-500392.asp?offset=1
pritesh
(CA Final student)
(7101 Points)
Replied 25 January 2019
Gaurav Arora
(DGM (Administration & Accounts))
(29 Points)
Replied 29 January 2019
If there is loss means sale value is less than the wdv then is there any gst applicability or need to show in any gst return?
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4515 Points)
Replied 29 January 2019
Dear Gaurav,
No, GST would not be applicable if there is a loss, it need not be shown in GST returns.
CAclubindia
