GST on Second hand commercial vehicle
MAYUR MINAJGI (54 Points)
21 May 2023
What is the GST rate is second hand sale of Tipper used for construction activities.....??
1 Replies
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 25 May 2023
As per Notification 8/2018 CT rate :
Assuming Vehicle has been purchased in GST regime
If ITC is claimed then Rule 43 will be applicable & taxable value will be :
Need compute Remaining life of Vehicle & ITC need to be computed to Extend of Vehicle Remaining life .
or GST on transaction value . GST will be applicable whichever is higher.
2. If ITC not claim:
GST will be on Margin value (Profit)
Note : 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%
For More clarification can Refer : https://youtu.be/tdTP7trj-5g
Assuming Vehicle has been purchased in GST regime
If ITC is claimed then Rule 43 will be applicable & taxable value will be :
Need compute Remaining life of Vehicle & ITC need to be computed to Extend of Vehicle Remaining life .
or GST on transaction value . GST will be applicable whichever is higher.
2. If ITC not claim:
GST will be on Margin value (Profit)
Note : 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%
For More clarification can Refer : https://youtu.be/tdTP7trj-5g
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