Gst on sale of old vehicles
amol bramhankar (artical tranee) (277 Points)
14 October 2020
Any gst on sales of old vehicles or is exempted
6 Replies
Shivam RC
(Student)
(23683 Points)
Replied 14 October 2020
Yes Sir GST is applicable on Sale of Second Hand Motor Vehicles. It is a SUPPLY. You can refer Notification No. 8/2018 - Central Tax ( Rate ), dated 25th January 2018 for the GST Rates which are applicable on sale of second hand cars.
Nidhi
(Chief Accountant)
(3150 Points)
Replied 14 October 2020
It's not exempt. GST is applicable on sales of old vehicles
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 15 October 2020
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%
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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