Sale of old commercial vehicle

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..... Sale of old commercial vehicle
Query (Issue) Started By: - Syamaprasad Menon Dated:- 29-9-2021 Last Reply Date:- 29-9-2021 Goods and Services Tax - GST
Got 3 Replies
GST
How the sale of a .....

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..... 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 of GST - will co .....

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..... mpensation 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 availed on old and used .....

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..... 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. Rate of cess depends o .....

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..... n 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 purpose is not available.Notific .....

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..... ation No. 1/2018-C.C. (Rate), dated 25-1-2018 refers. Reply By Syamaprasad Menon: The Reply: thanks for the response
Discussion Forum - Knowledge Sharing .....

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