Dear Sir/Mam,
I bought a car by paying VAT under installment basis scheme provided by the org I am working in. The car is reg under the org name. As i left the org, now i want to buy the same from my org . The org has availed the dep on it. They are Ready to sell the car at WDV.
Now the sale is an Inter State sale. But while paying installments i paid VAT. Is GST applicable?
GST Applies to Second-Hand Car Bought from Employer; Reduced Rates for Used Vehicles Based on Engine Capacity An individual inquired about the applicability of GST on purchasing a second-hand car from their former employer, where the car was initially bought under a VAT scheme. The car is registered under the organization's name, and they are selling it at its written-down value (WDV). Responses indicated that payments made after July 1, 2017, are subject to GST. A notification reduced GST rates on old and used vehicles to 18% for certain engine capacities and 12% for others, with exemptions on cess for used vehicles. The GST is calculated based on the margin of supply, considering depreciation if applicable. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
