कार SALES पर NIRMALA SITHARAMAN का बड़ा बयान #tax #gst #car #course #skills #job #tally #taxation

कार SALES पर NIRMALA SITHARAMAN का बड़ा बयान

GST Rules for Used Cars:
Key ChangesTax Applied on Profit: GST is applied to the difference between the selling price and the purchase price, essentially taxing the profit margin made by the seller.

For example, if a used car is bought for ₹10 lakh and sold for ₹12 lakh, the GST is calculated on the ₹2 lakh profit.

Is GST applicable on sale of cars?

For example, if a car dealer buys a used car for ₹10 lakh and its selling price is ₹12 lakh. In this case, the margin is positive, i.e., ₹2 lakh, so 18% GST will be charged on 2 lakh profit.

How to avoid GST on cars?

For sellers who have claimed depreciation under Section 32 of the Income Tax Act, GST is applied only on the margin between the sale price and the depreciated value of the vehicle. In cases where the sale price is lower than the depreciated or purchase value, creating a negative margin, no GST is applicable.

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