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GST on sale of bus?


Sheetal Devaki   20 June 2019

Sheetal Devaki

 58 points

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Bus operator plying between two places, having AC as well as Non AC buses. For AC buses ticket fare he is charging GST @ 5% without ITC and No GST on Non AC bus ticket fare.

Now he sold one AC bus and One Non AC bus. whether he has to pay taxes on sale of bus?

Radhika Harsha (Chartered Accountant)     20 June 2019

Radhika Harsha
Chartered Accountant 
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yes. gst is payable on sale of both the buses

Sheetal Devaki   20 June 2019

Sheetal Devaki

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okay thank you.

avater

Pankaj Rawat (GST Practitioner)     20 June 2019

Pankaj Rawat
GST Practitioner 
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As per Notification 8/2018 CT (r) Vehicle of Vat Regime Sold in GST Regime : GST is applicable on Profit Margin (Sale-Puchase ) Vehicle Purchased & Sold in GST Regime : If ITC claim , then GST is on transaction Value If ITC is not claim , then GST is on Profit Margin (Sale - Purchase) GST Rate 12 % & 18% is applicable as per CC engine of vehicle mentioned in Notification. More then 1500 CC , leanth exceeding 4000 MM, GST is 18% Else ,.. 12%

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Deepali Walia   20 June 2019

Deepali Walia

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GST is payable ... 

Thanks

Deepali

Sheetal Devaki   21 June 2019

Sheetal Devaki

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I trying to get notification, but not finding, please help me out.

avater

Pankaj Rawat (GST Practitioner)     24 June 2019

Pankaj Rawat
GST Practitioner 
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cbic.gov.in

http://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-08-2018-cgst-rate-english.pdf;jsessionid=A557F03A250A0C0013027AF0CEAF9E66


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