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SACHIN GARG asked 2 years ago

OLD CAR SALE

WHAT IS THE RATE OF TAX ON OLD CAR SALE UNDER GST REGIME

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4 Answers
Profile photo of CA ANITA BHADRACA ANITA BHADRA answered 2 years ago

28%

Profile photo of SACHIN GARGSACHIN GARG answered 2 years ago

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.
THEN….

Profile photo of CA ANITA BHADRACA ANITA BHADRA answered 2 years ago

Sachin ji 
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..
 

Profile photo of SACHIN GARGSACHIN GARG answered 2 years ago

 THANKS ANITA G…
IF A PROPRIETOR OF A FIRM HAVE A CAR WHICH IS SHOWN IN BALANCE SHEET AND HE WANTS TO SALE THE CAR OF A INDIVIDUALLY PERSON AND INDIVIDUALLY PERSON IS NOT REGISTERED IN GST REGIME. THEN THE GST 28% APPLICABLE OR NOT….