Concessional UTGST on used vehicles taxes only the supplier margin at prescribed rates, excluding supplies with input tax credit. Concessional UTGST limits tax on specified old and used motor vehicles to the amount calculated at the prescribed rate on the supplier's margin. Margin for depreciated assets equals consideration less depreciated value; otherwise it is selling price less purchase price, with negative margins ignored. The concession is inapplicable where the supplier has availed input tax credit, CENVAT, VAT credit or other tax credits on the goods, and vehicle classification follows the Motor Vehicles Act and related rules.
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Provisions expressly mentioned in the judgment/order text.
Concessional UTGST on used vehicles taxes only the supplier margin at prescribed rates, excluding supplies with input tax credit.
Concessional UTGST limits tax on specified old and used motor vehicles to the amount calculated at the prescribed rate on the supplier's margin. Margin for depreciated assets equals consideration less depreciated value; otherwise it is selling price less purchase price, with negative margins ignored. The concession is inapplicable where the supplier has availed input tax credit, CENVAT, VAT credit or other tax credits on the goods, and vehicle classification follows the Motor Vehicles Act and related rules.
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