TMI BlogGST on used vehicleX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sir, Iam a registered dealer under GST.May I request your expert advice as under: If I purchase a repossessed vehicle @ 100000-00 ( which falls under 12% gst) PURCHASE PRICE :- 100000-00 EXPENSES ;- 25000-00 (on insurance cover,MV tax,Parking charges to yard,4 tyre, (incld.GST) Sold the vehicle@ ;- 150000-00 Net Dealer Margin :- 25000-00 Would I have to pay the G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ST on Dlr Margin i.e on 25000-00 or on the difference of sale price purchase price 150000 (-)100000 )= 50000 Kindly have your kind advice on the above confusion. Regards, Sunil - Reply By KASTURI SETHI - The Reply = Margin Scheme in GST C.B.E. C. Flyer No. 30, dated 1-1-2018 - Reply By KASTURI SETHI - The Reply = Dear Querist, You will pay GST on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 377; 50,000/- - Reply By Ganeshan Kalyani - The Reply = In my view, the scheme is applicable to the dealer dealing in second hand vehicle . Are you dealing in Second hand motor vehicle . - Reply By Ganeshan Kalyani - The Reply = In my view Notification No. 8/2018 -Central Tax (Rate) dated 25th January, 2018 is applicable to you. - Reply By Ganeshan Kalyani - The Reply = If you are not a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dealer dealing in second hand vehicle then the Notification referred in my previous reply is applicable. - Reply By sunil kumar - The Reply = Dear Sir, Can I collect refurbishment cost by raising separate invoice to customer against cost of insurance policy, new tyres, parking charges payable to parking yard transportation charges from yard, after adding nominal services charges. For e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xample :- cost of insurance policy 8000-00 (GST payable) Parking Charges 10000-00 (GST payable) Cost of 04 tyres 7000-00 (GST payable) Tpt charges Pertol driver 3000-00 (Vat payable on petrol) Gross 28000-00 service charges from customer 2000-00 Do I have to pay the GST on 28000-/ or 2000/- against service charges collectable from customer. May I request for your kind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... advice? Regards, Sunil - Reply By KASTURI SETHI - The Reply = Dear Querist, First you are requested to reply to the question raised on 2.3.2019 by Sh.Ganeshan Kalyani Ji. Pl. confirm whether you are dealing in Second Hand motor vehicle. - Reply By KASTURI SETHI - The Reply = You cannot issue separate invoice. You cannot issue taxable invoice. You are to p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay GST from your margin. There is restriction on avaiment of ITC also. Read carefully last two paras of Board's Flyer :- In case any other value is added by way of repair, refurbishing, reconditioning etc., the same shall also be added to the value of goods and be part of the margin. If margin scheme is opted for a transaction of second hand goods, the person selling the car to the compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny shall not issue any taxable invoice and the company purchasing the car shall not claim any ITC. - Reply By Ganeshan Kalyani - The Reply = I agree with Sri Kasturi Sir's reply. - Reply By sunil kumar - The Reply = Thanx a lot Sir, for your kind advice. Regards, Sunil - Reply By sunil kumar - The Reply = Dear Ganeshan kalayani Sahab, We are dealing in second hand motor vehicle, re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gistered under GST scheme. Regards, Sunil - GST on used vehicle - Query Started By: - sunil kumar Dated:- 28-2-2019 Goods and Services Tax - GST - Got 11 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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