Dear Sir, Could you please clarify that
The following amounts are received at the time of sale of 2 wheeler vehicles are taxable or not.
1. Insurance Amount collected at the time of sale of 2 wheeler along with sale amount and given to insurance agent for purchase of insurance on the name of the buyer. No extra amount is calculated.
2. RTO Tax and Service Charges collected for registration of the vehicle and tranferred the amount to the RTO agent.
Debate on GST Applicability for Two-Wheeler Sales: Are Insurance and RTO Charges Exempt as per Rule 33? A forum discussion addressed whether certain charges collected during the sale of two-wheeler vehicles are subject to Goods and Services Tax (GST). The charges in question include insurance amounts and RTO tax and service charges. One participant suggested that these charges could be excluded from GST if they meet the criteria of a 'pure agent,' as per rule 33, unless they are necessary for the sale. Another participant argued that RTO formalities and related expenses should be included in the transaction value as they are typically handled by the vehicle supplier. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
