Exchange of Car
Query (Issue) Started By: – Ethirajan Parthasarathy Dated:- 28-12-2018 Last Reply Date:- 1-1-2019 Goods and Services Tax – GST
Got 1 Reply
GST
A GST registered person exchanges his old car for new car.
The car Company credits him with
1) value of old car
2) Exchange Bonus and
3) Loyalty bonus. Item No. 1 is subject to GST as per notification No.8/2018 dated 25th January 2018.
Are loyalty Bonus and exchange bonus are also subject to GST.
Reply By HIREGANGE& ASSO
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