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18 Per Cent GST On Old Used Cars Applicable Only When Sale Price Exceeds Depreciation Value: Report
The GST Council last week announced that a single rate of 18 per cent GST will be applicable on sale of all old and used vehicles including EVs. Earlier, the Goods and Services Tax (GST) rate used to be different for these categories.
18% GST On Sale Of Old Cars, Including EVs, Applicable Only To Registered Businesses
At the GST Council meeting held on Saturday, the council recommended 18 per cent GST on the margin of the sale of all old and used vehicles, including electric vehicles (EVs). Earlier, different GST rates were applicable to the sale of old vehicles and old EVs.
GST applicable on used car sales only if sale margin is positive; no tax on individual-to-individual sales
The recent decision by the GST Council of a uniform 18% rate was aimed at harmonising GST applicable on sale of all used vehicles, including EVs.
GST on Used Cars: Only When Sale Price Exceeds Depreciated Value
Learn about the new GST rules on used car sales in India. GST is payable only on the margin, the difference between selling price and depreciated value. Find out how this affects EV and fossil fuel car sales.
Hosted on MSN
1h
GST on selling used cars? Here's some clarity on who will pay how much
While an individual seller need not pay 18 per cent GST when selling his or her car, there are several grey areas which ...
Fortune India
13m
No increase in GST on popcorn, no impact on prices at theatres: Govt Sources
Netizens rose up in arms last week when the Council reiterated the existing 5%, 12% and 18% tax slab on the pop corn, ...
16h
on MSN
GST on used cars: GST Council says no new tax imposed, clarifies on tax rate
The GST Council clarified that it has simplified the tax rate and recommended unifying and prescribing a single rate of GST ...
1d
How to tax popcorn? India's formula sparks outrage against GST system
India's move to tax popcorn differently based on its sugar or spice content has drawn criticism from the opposition and ...
The Financial Express
8h
GST clarity on gift vouchers spurs industry optimism
Experts believe the exemption will not only simplify compliance but also encourage greater use of vouchers across retail and ...
cnbctv18
13h
GST on sale of old and used vehicles (EVs): 18% GST rate and guidelines | FAQs
Learn about GST on the sale of old and used vehicles, including electric vehicles (EVs). Understand the 18% GST rate, ...
11h
Proposed GST hike may not shake up used car market much
The proposed GST increase on used small cars will have minimal impact on demand, say analysts. The rise in GST will slightly ...
Impacts
1d
Mastering Tax Efficiency with a GST Calculator Online
Comprehending and handling Goods and Services Tax can be daunting for numerous businesses and individuals. The complexities ...
Republic Business on MSN
1h
Popcorn sold in movie theatres to attract 5% GST
The 55th meeting of the GST Council clarified the GST applicability in popcorn after it received a request from Uttar Pradesh ...
18h
on MSN
GST on popcorn: Varying rates may be difficult to implement, lead to classification disputes, say experts
T he humble popcorn is in the eye of a storm with the recent clarification by the Goods and Services Council that different ...
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