GST on Sale Used Car on which ITC was availed
Query (Issue) Started By: – SHAILENDRA singh Dated:- 30-10-2018 Last Reply Date:- 31-10-2018 Goods and Services Tax – GST
Got 5 Replies
GST
I'm in process of selling a car which was purchased 1 year ago for the purpose of transportation of passengers hence ITC was take at the time of purchase. what rate of GST should i Charge? on what value? is there any cess applicable ?
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nIn my view, GST is applicable on the difference of Sale value and the purchase price. Cess is not applicable.
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nGst rate @12% or 18% applicable as per the specifications of the car.
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nRefer notifi<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n e clarifiying that aforesaid entry is not applicable if input tax credit is taken at the time of purchase….. so cess is applicable in this case. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" GST on Sale Used Car on which ITC was availed Query (Issue) Started By: – SHAILENDRA singh Dated:- 30-10-2018 Last Reply Date:- 31-10-2018 Goods and Services Tax – GSTGot 5 RepliesGSTI'm in process of selling a car which was purchased 1 year ago for the purpose of transportation of passengers hence ITC was take at … Continue reading “GST on Sale Used Car on which ITC was availed”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-14727","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/14727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14727"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/14727\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nRespected Querist,
\nin my view,
\nas for as rate concernd,,,, refer the notification as suggest by experts.
\nas for as the value is concerned,,,, you should charge on selling price of good (subject to conditions as specified in valuation rules).
\nas for as cess is concerned,,, cess is applicable. for rate of cess kindly refer NOTIFICATION NO. 1\/2017-COMPENSATION CESS (RATE)
\nRule 32(5) Where a taxable supply is provided by a person dealing in buying and selling of second hand goods i.e., used goods as such or after such minor processing which does not change the nature of the goods and where no i<\/p>\n
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