GST rate

Rate / HSN codes 234 views 3 replies
A transporter wants to sell his old truck, what will be the GST rate on sale of truck?
Replies (3)

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% 

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
thank you and congratulations


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