GST on selling old cars: How does 18% tax on used vehicles affect you? Explained
The 18 per cent GST would not be applicable if an individual sells old and used car to another individual. If a GST registered person has claimed depreciation, the tax is payable only on the value representing the margin.
GST on selling used cars? Here's some clarity on who will pay how much
While an individual seller need not pay 18 per cent GST when selling his or her car, there are several grey areas which remain.
GST on used vehicles: Know how 18% tax on selling old cars will affect you
As the country was busy figuring out the increased tax on caramelised popcorn, the 18 per cent Goods and Services Tax (GST) on selling old vehicles has grabbed eyeballs, with many discussing it how it would affect them.
GST of 18% to be levied on sale margin of a car
The GST on the margin of sale for used vehicles, including electric ones, has been revised to 18%. GST is payable only on the margin between purchase price and sale price. For depreciated vehicles, GST applies only if the sale price exceeds the depreciated value.
GST On Old Used Cars Only When Sale Price Higher Than Depreciated Value
A registered person will have to pay GST on sale of old and used vehicle only if the seller has earned a margin, which is the selling price is higher than the depreciation adjusted cost price of the vehicle,
18% GST On Old, Used Cars Only If Seller Earns A Margin: Report
Used Cars: 18% GST - Will It Affect Individual Buyers, Sellers? Explained
Registered sellers must pay GST on the sale of old and used vehicles only if there is a positive margin, meaning the selling price exceeds the depreciation-adjusted cost of the vehicle. If the margin is negative,
GST applicable on used car sales only if sale margin is positive; no tax on individual-to-individual sales
Only “registered persons” — mainly businesses involved in purchase and sale of used vehicles — are liable to pay Goods and Services Tax (GST) on sale of old and used vehicles, and that too only if a margin is earned on such a sale,
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18 Per Cent GST On Old Used Cars Applicable Only When Sale Price Exceeds Depreciation Value: Report
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Basic of GST and Registration Thresholds
Businesses are required to get registered under GST, if the turnover of the business crosses the threshold limit which is Rs.
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All you need to know about the GST on EVs
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GST clarification on popcorn tax: Here’s what you’ll pay at theatres
A recent GST clarification on popcorn stirred social media frenzy over differential tax rates applicable on salted, caramelised, and loose popcorn.
Proposed GST hike may not shake up used car market much
The proposed GST increase on used small cars will have minimal impact on demand, say analysts. The rise in GST will slightly ...
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Understanding GST on used cars: Rules, examples, and exemptions
The GST Council clarified rules for old vehicle sales, setting an 18 per cent tax on seller margins, exempting private sales ...
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GST on podcasts, tax for Reels? Standup comedian's hilarious suggestions leave social media amused
Displeased over the tax situation in the country, a standup comedian made a hilarious suggestion on social media. He ...