The 18 per cent GST (Goods Service Tax ) would be applicable only Registered Person on the margin of the selling price
GST would be apply on used | old |EVs vehical also
GST would not applicable if individual sell old or used vehical to another individual
GST is applicable if the seller earn margin and the GST would be calculate 18% on margin
GST has update on Monday nirmala sitaraman has told GST will be apply only on the margin
and it would be 18 per cent.
How GST would be calculate
for example – If the selling price is grater than original purchase price then GST would
be calculate on the revenue and it would be 18 percent and not on whole price .
For Example :-If the vehical orginal purchase price is RS 15 lakh and the selling price is RS 16 lakh then
How GST woule be calculate on the depereciated value
If a GST registered person claimed deprecition , the GST tax payble only on the margin
GST will not be apply on negative amount .
Example :- ( In the case of margin is negative )
If a seller sell car (purchase price is RS 20 lakh ) to another individual at RS 15 lakh and deperciation value is RS 2lakh
then seller has no payble GST as margin because selling price is RS 15 lakh and depreciated value is RS 18 lakh is negative .
Example :- ( In the case of margin is positive )
If A sell his car (purchase price is RS 20 lakh ) to Y at RS 15 lakh and depreciation value is RS 6lakh
then GST would payable as margin because selling price is RS 15 lakh and depreciated value is RS 18 lakh is positive
GST would be RS 54 thousand it will apply on 3 lakh.