Bengaluru | 22 Feb, 2019 (3 months ago)

Business Tax

Clarification on tax notification

As per Notification No. 8 /2018 of Central Tax Rate GST was applicable on sale of old used vehicles on positive margin between sales price and WDV. So whether we consider WDV as on 1.4.2018 or we have to claim depreciation up to the date of sale and such WDV is to be consider for calculating GST on margin?
Answers

Dear Sir,
GST on Old & Used cars – Applicable only on margin of the supplier at 12%/18% without cess


22 Feb, 2019 | 14:35

According to me WDV to be calculated till date of supply as given in explanation to Notification no. 8/2018- CT (Rate).


clarification-on-tax-notification-3577839

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