GST ON SALE OF SECOND HAND CARS

RULE 32, whether a company selling its capital asset (Cars) can charge GST on only margin as specified under rule 32 or it has to charge gst on entire consideration.
please specify section reference
Replies (3)
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%


Rule 32 is for who deals in 2nd hand goods
Sir please let me know the company has not taken itc on capital goods and it is not a dealer of second hand goods , so i want to know whether the company should charge GST on margin money or whether it has to pay gst on entire consideration?

ANY CAPITAL GOODS (EXCEPT VEHICLE) PURCHASE IN VAT REGIME & SOLD IN GST REGIME , GST WILL BE CHARGED ON TRANSACTION VALUE (SALE VALUE) & IF CAPITAL GOODS PURCHASE IN GST PERIOD & ITC NOT BEING CLAIM , AS PER SCHEDULE 1 IT WILL NOT CONSIDER AS SUPPLY & NO GST IS APPLICABLE

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