gst rate on sale of used vehicle (tempo)
Satish Kavitake (395 Points)
01 September 2018
what is the GST rate on sale of old vehicle (tempo)
1 Replies
Pankaj Rawat
(GST Practitioner)
(55062 Points)
Replied 01 September 2018
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%
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%
Recent Topics
- Amount withdrawn from capital gain account scheme
- TDS RETURN REJECTED with Reason Line no 2 –
- Issue in e_filing of IT return
- New India Coop Bank Frozen Account
- GST Registration for export of services under sec2
- Exemption Available or not under new tax regime
- Loss on F & O
- FCNR DEPOSIT INTEREST EARNED REPORTING IN ITR2
- Rectification of tDS
- Interest from SCSS in ITR
Related Threads
Trending Online Classes
CAclubindia
