OLD CAR SALE
WHAT IS THE RATE OF TAX ON OLD CAR SALE UNDER GST REGIME
HI ANITA G….
I KNOW THE RATE OF TAX SALE ON OLD CAR IS 28% BUT THE REVENNUE SECRATARY ALSO SAID SALE OF SECOND HAND CARS BETWEEN INDIVIDUAL OR BY INDIVIDUAL TO A FIRM WON’T BE TREATED AS TAXABLE TRANSACTION UNDER GST.
You are right . Since yr question was simply about rate of tax on old car , I responded 28% .
Individuals selling old vehicles will not have to pay GST on the sale as it is not for furthering any business..