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GST on used car sold by businessman
Please advise on whether GST to collected on used car sold by businessman? And also e-way bill required?
Replies (2)
*GST will be collect if he is registered under GST...
**E-Way bill not required if direct sale to customer...
**E-Way bill not required if direct sale to customer...
If the vehicle is purchase in Vat regime & sold in GST regime , GST will be charge on 65% of Transaction value (as per Noti.37/2017)
If vehicle is purchase in gst regime ,sold & ITC was avail on same , GST will charge on Transaction value (sale), If No ITC was availed then GST will be charged on profit margin (As per notification 8/2018 CT (r))
If vehicle is purchase in gst regime ,sold & ITC was avail on same , GST will charge on Transaction value (sale), If No ITC was availed then GST will be charged on profit margin (As per notification 8/2018 CT (r))
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