please inform to us ROT of fixed assets car sales
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Rate of tax Fixed assets car sale
Replies (6)
Quick Summary
Capital gain... tax..
in whose name is the car...
in whose name is the car...
Property firm what is the GST rate
Are engaged in purchase and sell of fixed asset...
Do u engage in buying and selling of Car or engaged in other nature of business and selling your used car?
If it is a used or old car as you have mentioned as 'fixed asset' rate of gst shall be either 18% or 12%
go through Notification No 8/2008 Central Tax , in which four varieties of vehicles are mentioned having 18% and 12% rate and you may select the appropriate category in to which your vehicle falls.
Also there is no Cess applicable to the used vehicles vide Notification No 1/2018 Compensation Cess rare.
Proprietoy firm. rc owner proprietor. reflect in fixed assest. i want sell this car. what is the rate of tax in GST
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