Dear experts
Business is purchase used vehicles from domestic individuals and resale it.
eg. purchase value- 1L
sale value. - 1.25L
margin value. - .25L
how to file this in Gst?
in this case Gst under goods or service section?
haveRCM?
is turnover .25L or 1.25L( taxable)
opt composition only or regular also?
reply plz
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Query on used vehicle
Replies (4)
Have you resale used Motor vehicle to registered person under GST ?.
No sir. only local b2c sale
As per Rule 32 of CGST Act , its procedure prescrible for valution & levy of GST on person dealing on 2Nd hand Goods .
Thus even though GST is applicable on Margin , its cover under Goods not Service.
And The turnover will sale value not Margin
Thus even though GST is applicable on Margin , its cover under Goods not Service.
And The turnover will sale value not Margin
Okay sir. thank you for your reply.
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