dear expert.
taxable value for second hand car is difference between sale value - purchase cost. and taxable @ 18%
I.e margin scheme
but for the purpose of registration limit (20 lacs) which value to be considered....?
1 - sale value of car ..
or
2- taxable value as calculated above.
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gst on second hand motor car
Replies (8)
You are asking based on Business dealer or Consumer who is not its his business?
transaction value will be taxable value , As in GST margin scheme is to calculate the GST payable for those who deals in 2nd Hand Goods
So kindly clarify your query whether you deals in 2nd goods or selling your Old Car
So kindly clarify your query whether you deals in 2nd goods or selling your Old Car
m dealer of second hand cars, asking based on dealers point of view
YES , YOUR TURNOVER WILL BE CALUCULATE ON SALE VALUE ON PROFIT MARGIN
please clarify... sale value or profit margin....?
SALE VALUE IS TRANSACTION VALUE ON WHICH THE CAR SOLD
PROFIT MARGIN IS SALE MINU PURCHASE
so my turnover will be sale value of car..
means if sale value exceeds 20 lacs then I need to register in GST..
means if sale value exceeds 20 lacs then I need to register in GST..
YES CORRECT ....DEAR
YOU HAVE TO TAKE REGISTRATION BUT CAN OPT THE OPTION OF MARGIN SCHEME, MEANS GST TO BE PAID ON ONLY PROFIT MARGIN
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