we purchase commercial vehicle from open mkt & bank online auction
gst rate ?
if seller who sells me does not pay gst who will pay next ?
what will be gst on commision ?
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Reseller of used commercial vehicle
Replies (1)
According to Rule 6(5) of the determination of the value rules in GST if a person deals in second hand goods on which ITC then the value shall be computed between difference between the selling price than purchase price and where such values negative it shall be ignored. Thus tax shall be levied on positive margins on you at 18% and yes this is also in case where the person you bought from doesn’t pays GST.
On commission it will be same 18%.
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