Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Home Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles News Highlights
Extracts
Home List
← Previous Next →

GST CONCERNS OF AUTOMOBILE DEALERS

Goods and Services Tax - GST - By: - Dr. Sanjiv Agarwal - Dated:- 18-8-2017 - Goods and Services Tax (GST) in now a reality and then most of the present indirect taxes on goods and services shall become history making GST indeed historic. The launch .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

empt to flag certain areas of concerns for automobile industry and automobile dealers which are indeed grey, both in colour as well as in understanding and interpretation. Closing Stock of Vehicles / Spare Parts GST law provides that all closing stoc .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

itions (which are not easy) are fulfilled. Carrying forward of unclaimed Credit Depending upon rate of tax on input and spare parts in GST regime, i.e., 18% and above or below 18%, input tax credit would be allowed only to the extent of 60% or 40% re .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

for marketing and training as a usual business practice which are presently not considered as capital goods. There are two divergent views on the same in view of specific denial of credit to motor vehicles in input tax credit provisions. Discounts o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e. Their tax treatment and documentation would be crucial to avoid interpretational disputes with the Department. Marketing Strategies and Freebies At present auto dealers offer incentives to potential buyers in the form of free insurance, free acces .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

es as these would imply exempt supplies. Dealing in pre-owned Vehicles Today, there is not tax or a lower tax on pre-owned or second hand vehicles. In GST, tax would be payable on all such deals at full value or at differential value where input cred .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

y subject to repair and maintenance which will involve supply of consumables as well as spare parts. Rates of both goods as well as services would be different, i.e., 28 or 18%. The problem of treating a transaction as a mixed or composite supply is .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Forum
what is new what is new
  ↓     bird's eye view     ↓  


|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version