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TREATMENT IN GST TO SALES OF COMMERCIAL VEHICLE WITH GST.

ganesh sorte (fy bcom) (21 Points)

17 November 2020

I TAKEN COMMERCIAL VEHICLE ON OCT 2017 AND I ALSO TAKE GST CREDIT ON IT, BUT I WANT TO SELL THIS VEHICLE, CAN GST ON SALE OF THIS VEHICLE IS APPLICABLE. IF APPLICABLE WHAT IS RATE OF GST.

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2 Replies

(Guest)

Read notification no 8/2018 central tax rate

It's 18% on margin value

Margin = sale price less WDV as per income tax

If there's no margin then no GST.

Shivam RC (Student) (23683 Points)
Replied 17 November 2020

Yes you can refer Notification No. 8/2018 - Central Tax ( Rate ), dated 25th January 2018 to know the GST Rates on sale of Second hand Motor Vehicles.