GST on used vehicle
Query (Issue) Started By: – sunil kumar Dated:- 28-2-2019 Last Reply Date:- 4-3-2019 Goods and Services Tax – GST
Got 11 Replies
GST
Dear Sir,
\nIam a registered dealer under GST.May I request your expert advice as under:
\nIf I purchase a repossessed vehicle @ 100000-00( which falls under 12% gst)
\nPURCHASE PRICE :- 100000-00
\nEXPENSES ;- 25000-00 (on insurance cover,MV tax,Parking charges to yard,4 tyre, (incld.GST)
\nSold the vehicle@ ;- 150000-00
\nNet Dealer Margin :- 25000-00
\nWould I have to pay the GST on Dlr Margin i.e on 25000-00 or on the difference of sale price & purchase price 150000 (-)100000 )= 50000
\nKindly have your kind advice on the above confusion.
\nRegards,
\nSunil
\nReply By KASTURI SETHI:
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n customer against cost of insurance policy, new tyres, parking charges payable to parking yard & transportation charges from yard, after adding nominal services charges. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" GST on used vehicle Query (Issue) Started By: – sunil kumar Dated:- 28-2-2019 Last Reply Date:- 4-3-2019 Goods and Services Tax – GSTGot 11 RepliesGSTDear Sir, Iam a registered dealer under GST.May I request your expert advice as under: If I purchase a repossessed vehicle @ 100000-00( which falls under 12% gst) PURCHASE PRICE :- … Continue reading “GST on used vehicle”<\/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-17046","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/17046","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=17046"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/17046\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nFor example :-
\ncost of insurance policy 8000-00 (GST payable)
\nParking Charges 10000-00 (GST payable)
\nCost of 04 tyres 7000-00 (GST payable)
\nTpt charges Pertol & driver 3000-00 (Vat payable on petrol)
\nGross 28000-00
\nservice charges from customer 2000-00
\nDo I have to pay the GST on 28000-\/ or 2000\/- against service charges collectable from customer.
\nMay I request for your kind advice?
\nRegards,
\nSunil
\nReply By KASTURI SETHI:
\nThe Reply:
\nDear Querist,
\n First you are requested to reply to the question raised on 2.3.2019 by Sh.Ganeshan Kalyani Ji. Pl. confirm whether <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n