GST Impact on Sale of Used Motor Vehicle
This query is : Open
25 October 2021 Sir, I want to know the GST Implication on the sale of used motor vehicle. I was purchased goods vehicle 5 years before which are eligible for availing ITC and the same was availed in the books. Now I sold the vehicle at a profit. Now I want to know whether GST was liable on the Sales Value or on the Margin Value (Sale value - written down value). If it makes any difference if I sold the vehicle within a period of Five years.
25 October 2021 you should have to pay gst on sale value.
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