Used Commercial vehicle sale & purchase comes under which category & how it will be calculated
2 Replies
natarajan
(SM - Audit & Taxation)
(156 Points)
Replied 27 June 2017
Dear sir,
it normally falls under the same GST Tax bracket applicable to original product.
You may purchase from unregistered person, then you have to pay GST and the paid amount will be eligible as Input credit.
Sale to any person ( registered or unregistered) GST gets applied.
Against the Input credit ( paid amount) adjust the sale GST Liability.
Hope it is clear
Rajinder Tah
(Manager)
(40 Points)
Replied 28 June 2017
gst is 28% on new
i purcjase a vehicle for rs/- 300000
paid 40000 for road tax
+
other expense applicable
sold this vehicle to some unregistered person for 475000
GST ?
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