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Gst rate on old vehicle sale
Gst on sale of old vehicle which is purchased prior to 1_7_2017 credit not availed..is 11.70% ( 65%of @ 18% ).NOT LEASED
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Quick Summary
If you have not availed input tax credit , then please refer Notification 8 / 2018 dated 25/1/2018 .
Yes I referred and got confised..but what I understood I marked it
As per Notification 8/2018 CT (r)
Vehicle of Vat Regime Sold in GST Regime :
GST is applicable on Profit Margin (Sale-Puchase )
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%
Vehicle of Vat Regime Sold in GST Regime :
GST is applicable on Profit Margin (Sale-Puchase )
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%
Thank you for response..but what about concessional rate 65% of rate
HAS BEEN AMENDED BY ABOVE NOTIFICATION , HENCE NOTI 8/2018 CT (R) IS EFFECTIVE NOW.
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