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sale purchases of old Vhicle
i have a business of sale of auction vhicle so what is process under GST
Replies (2)
Under valuation rule you have an option to pay GST only on: Sale value - purchase value = taxable value. Provided you don't claim any input tax credit.
Further if you follow marginal scheme you are exempt from paying tax on reverse charge mechanism if you purchase second hand vehicle within state.
Further if you follow marginal scheme you are exempt from paying tax on reverse charge mechanism if you purchase second hand vehicle within state.
what is the rate and marginal is a composite scheme
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