Old Used Cars Gst
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GST At 18% On Sale Of Used Cars Only If Seller Earns A Margin: Report
A registered person will have to pay GST on sale of old and used vehicle only if the seller has earned a margin, which is the selling price is higher than the depreciation adjusted cost price of the vehicle, sources said.
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No GST On Second Hand Goods If Sold Cheaper
Rule 32(5) of the CGST Rules is a special sub-rule for person buying and selling second hand goods (for instance used cars, television and mobiles).
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No GST On Used Car Sold By Individual
The Revenue Department today clarified that sale of old jewellery as well as old vehicles by individuals will not attract any GST as the sale is not for furthering any business.
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GST At 18% On Sale Of Used Cars Only If Seller Earns A Margin: Report
A registered person will have to pay GST on sale of old and used vehicle only if the seller has earned a margin, which is the selling price is higher than the depreciation adjusted cost price of the vehicle, sources said.
-
No GST On Second Hand Goods If Sold Cheaper
Rule 32(5) of the CGST Rules is a special sub-rule for person buying and selling second hand goods (for instance used cars, television and mobiles).
-
No GST On Used Car Sold By Individual
The Revenue Department today clarified that sale of old jewellery as well as old vehicles by individuals will not attract any GST as the sale is not for furthering any business.
