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Hsn code for sale of used car in gst with profit
HSN code of sale of use car capital asset in gst with with profit so gst payable on profit please mention the hsn code to be used for this to make the tax invoice of profit
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Quick Summary
If used car was for Business purpose , and input tax credit has not availed earlier , then you have apply notification 8/ 2018 CT rate date 25/1/2018 , as per notification you have to pay GST on margin ( sale value - depreciated value of car on date of sale) , So please refer notification first , if you have sold used car .
HSN code you will find on GSTN portal
www.gst.gov.in / services / users services / Scarch HSN code .
HSN code you will find on GSTN portal
www.gst.gov.in / services / users services / Scarch HSN code .
Please also check above mentioned notification 8/2018 CT is applicable to you or not considering all details in the notification .
The depreciation to be calculated for margin is to be as per Income Tax Act
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