Gst rate on used vehicle

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student
90 Points Posted on 18 February 2020

if old motor vehicle is sold by the office(govt co) after using it for the office purpose what would be rate of gst on it if no itc is claimed on it ?

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On 18 February 2020 at 13:22 Report
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This discussion clarifies the GST rate applicable when a government office sells a used vehicle previously used for official purposes. If no Input Tax Credit (ITC) was claimed on the vehicle, the GST rate will be the same as that for new vehicles. GST is only applicable to the profit amount made on the sale, not the entire sale price.

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"Do the Right Thing...!!!"
128157 Points Posted on 18 February 2020
GST rate as per New vehicle's rate...
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On 18 February 2020 at 14:53
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Manger Accounts & Finance
363 Points Posted on 26 February 2020
GST applicable on Profit amount if any
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On 26 February 2020 at 07:06

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