Menu
Sale of Motar vehicle
I have use Motar vehicle in business purpose and Sale at time Gst applicable or not or how much Gst applicable and tratment on account.pls help Mi.. .
Replies (2)
The GST & Cess applicable on sale of old motor vehicle & the gst rate is depend upon the vehicle engine capacity.
Sir
If vehicle was purchased in vat regime then such vehicles when sold will attract GST of 65% of the applicable GST) rate, including compensation cess.
Plz read notification 37
In gst regime if any fixed asset is sold & ITC was avail on that particular then GST is to charged on sale amount & if no ITC was avail, then on profit margin u have charge GST
If vehicle was purchased in vat regime then such vehicles when sold will attract GST of 65% of the applicable GST) rate, including compensation cess.
Plz read notification 37
In gst regime if any fixed asset is sold & ITC was avail on that particular then GST is to charged on sale amount & if no ITC was avail, then on profit margin u have charge GST
Recent Threads
- Income taxform and 44ad and 44ada
- RSU - shares sold to cover taxes
- HSN numbers
- Disclosure of Additional Income in 148 Return
- Input tax after revision of GST rate
- Is Variable Pay considered as commission?
- Conveyance Reimbursement,Uniform Allowance,Interne
- GST Applicable for Section 8
- Income tax return status issue
- Larification on Applicability of ESI, PF, and Grat
Related Threads
CAclubindia
