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GST on Sale of Old Vehicle

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Helen Kiruba

Coimbatore

28 Points Posted on 07 January 2021

Can anyone tell me, what will be the GST rate if the sale of 2nd hand two wheeler is done by the company..?

Replies (3)

Quick Summary

When a company sells a second-hand two-wheeler, Goods and Services Tax (GST) is applicable. The GST rate is 18%, and it is levied on the profit margin made from the sale. If the vehicle is sold at a loss, no GST is charged.

nayab

Sr.Officer Accounts

250 Points Posted on 07 January 2021

If you sale with profit ,you have to pay GST on profit value .
if sale in loss ,no GST
GST Rate 18%

Shivam RC

Student

23693 Points Posted on 07 January 2021

As per Notification No. 8/2018 - Central Tax ( Rate ), dated 25th January 2018, GST @ 18% would be levied on the MARGIN AMOUNT incase of Second Hand Motor Vehicles.