sold out fixit asset

As per Notification 8/2018 CT (r)

Vehicle of Vat Regime Sold in GST Regime :
GST is applicable on Profit Margin (Sale-Puchase )

Vehicle Purchased & Sold in GST Regime :

If ITC claim , then GST is on transaction Value
If ITC is not claim , then GST is on Profit Margin (Sale - Purchase)

GST Rate 12 % & 18% is applicable as per CC engine of vehicle mentioned in Notification.



More then 1500 CC , leanth exceeding 4000 MM, GST is 18%

Else ,.. 12%

Sir can we claim INPUT TAX CREDIT in Motor Vehicle?

ITC on motor vehicle is only available for traders of motor vehicle, transport of goods and passenger.

in other cases ITC will not be available

Thank you Rohan Sir for the information