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GST on second hand automobile dealers
What will be the impact of GST on second hand automobile dealers which are dealing in cars and tractors etc.?
Replies (2)
You can apply normal valuation rules or you have option to value as per rule 6 which specifies vallu of supply shall be difference between selling price and purchase price. If value is negative, supply shall be ignored. valuation under rule will be possible only when bought out good are sold with out processing or after minor processing with out change in nature of goods.
if you are dealer in second hand cars then you have to pay gst on difference between selling and purchase price. at the rate applicable on new car of same category.
as the gst rate on new and second hand product is same.
as the gst rate on new and second hand product is same.
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