GST on sale of Commercial Goods Vehicles

[Suresh P]

A Commercial Goods Heavy Vehicle was bought in pre gst era 2001 and sold in GST era in August 2017 what is the GST rate including cess applicable on such sale and how the taxable value is computed if no GST was collected along with sale consideration.

AI Summary

GST on Selling Pre-GST Commercial Vehicles: Rates, Exemptions, and Impact of Past Input Tax Credit Explained A discussion on the applicability of GST on the sale of a commercial goods vehicle bought before the GST era and sold after its implementation. The original query sought clarification on the GST rate and computation method for such a sale. Responses highlighted that GST applies to old vehicles based on transaction value and engine capacity, with specific rates outlined in notifications. Exemptions from compensation cess and conditions affecting the GST rate were discussed, including the impact of availing input tax credit in the pre-GST era. The conversation concluded with a detailed examination of vehicle classification under Chapter 87 and relevant tariff items.