Valuation of second hand goods: margin scheme inapplicable; tax payable on transaction value of used car, not on margin.

Valuation of second hand goods: margin scheme inapplicable; tax payable on transaction value of used car, not on margin.Case-LawsGSTSale of a used car constitutes an outward supply in the course of business and is taxable under GST; the margin-based valua

Valuation of second hand goods: margin scheme inapplicable; tax payable on transaction value of used car, not on margin.
Case-Laws
GST
Sale of a used car constitutes an outward supply in the course of business and is taxable under GST; the margin-based valuation for second hand goods (Rule 32/Notification No.8/2018) is inapplicable because the seller does not deal in buying and selling of second hand goods and the vehicle was originally purchased as new. Input tax credit on motor vehicl

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =