I'm starting business of purchasing and selling of old vehicle.
please tell me gst applicable on it??
Where a person who is dealing in buying and selling of used goods, or goods subject to minor processing but which does not change its nature,the taxable value shall be computed as follows:
As per Rule 32(5) of CGST Act
ITC is not available
a. GST on Margin (Profit) = Selling Price – Purchase Price
b. If Selling Price is less than the Purchase Price, ignore the negative value. (GST is not applicable)
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