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GST rate

CA OM PRAKASH GUPTA (CA Practice ) (76 Points)

25 February 2019

A transporter wants to sell his old truck, what will be the GST rate on sale of truck?

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CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 25 February 2019

if it is not practice of the seller(i.e., dealing in trucks) so the gst is applicable on "MARGIN PRICE" only , and not on the whole amount of transaction

rate depends on cc , it may be 12% or 18%

pritesh (CA Final student) (7101 Points)
Replied 26 February 2019

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%

So , calculate your Gst payable on sale of vehicle as per above said notification