TMI BlogSale of old commercial vehicleX X X X Extracts X X X X X X X X Extracts X X X X ..... How the sale of a used commercial goods carrier, TATA Ace, bought during the VAT regime, claiming ITC, with the sale value exceeding the WDV by a few thousand, can be legitimately accounted - the rate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of GST - will compensation cess need be levied etc - Reply By KASTURI SETHI - The Reply = If input tax credit under GST or Cenvat credit under Cenvat Credit Rules or ITC under State VAT has been a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vailed on old and used motor vehicles, exemption from payment GST Compensation is not available. Compensation Cess is leviable w.e.f.25.1.18. See Notification No. 1/2018-C.C. (Rate), dated 25-1-2018 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Rate of cess depends on engine capacity. - Reply By KASTURI SETHI - The Reply = In this scenario, input tax credit/Cenvat Credit/VAT credit has been availed, hence margin scheme for valuation pur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pose is not available. Notification No. 1/2018-C.C. (Rate), dated 25-1-2018 refers. - Reply By Syamaprasad Menon - The Reply = thanks for the response - Sale of old commercial vehicle - Query St ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arted By: - Syamaprasad Menon Dated:- 29-9-2021 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dia - 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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