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2022 (6) TMI 133 - AAR - GSTQuantification of GST - calculation of tax on new car purchase by the company is sold after using it for business purpose - rate of GST - Whether the value of old and used car, sold by the company as mentioned above, can be taken as the value that represent margin of the supplier, on supply of such car, and whether the GST can be charged on such margin? - Whether the value that represent margin of the supplier, on supply of such old and used goods/Car will be inclusive of GST or exclusive? HELD THAT:- The subject car has engine capacity exceeding 1500 cc, length > 4000 mm, and ground clearance > 170 mm, with diesel as its fuel. As the applicant submits that it has not availed ITC, this used car to fall under the category of sr no 3 to Notification 8/2018-CT (R) dated 25-1-18. The Value for intended supply shall be the difference between the consideration received for supply of said car and the depreciated value of the said car on the date of supply. Depreciation is as per Section 32 Income Tax Act - GST rate leviable is 18% - Valuation, as per Explanation (i) to said Notification 8/2018-CT(R), is exclusive of GST.
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