TaxTMI 
TaxTMI 
Person dealing in old cars , can he opt for composition dealer and pay 1%, or normal dealer and with 18% on margin.Pls guide.
old car dealer eligibilty for composition dealer
24 Oct 2018 
3 Replies 
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Composition scheme eligibility for dealers in old cars depends on turnover; otherwise tax on margin applies.
Dealers in used cars may opt for the composition scheme if their turnover falls within the prescribed threshold; otherwise they follow regular GST treatment under which tax is levied on the margin (sale price less the depreciated value of the car as per income-tax rules), with the applicable GST rate varying by type of vehicle. (AI Summary)
Dealers in used cars may opt for the composition scheme if their turnover falls within the prescribed threshold; otherwise they follow regular GST treatment under which tax is levied on the margin (sale price less the depreciated value of the car as per income-tax rules), with the applicable GST rate varying by type of vehicle. (AI Summary)