Please refer to Notification No. 08/2018-CT (Rate) dated 25.01.2019. The transaction is specifically exempt from GST to the extent of the rate mentioned therein. For any further clarification please feel free to contact me at anshul.srac @ gmai.com
@ Arshul Notification 8/2018 CT (R) states about vehicle & Crane do not fall under the Defination of Vehicle.
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% Note: Government also Exempted the Cess applicable on sale of Used vehicle through Notification No. 1/2018 Compensation Cess Rateunder entry no.42A
@ Arshul Notification 8/2018 CT (R) states about vehicle & Crane do not fall under the Defination of Vehicle.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% Note: Government also Exempted the Cess applicable on sale of Used vehicle through Notification No. 1/2018 Compensation Cess Rateunder entry no.42A