https://www.taxtmi.com/article/detailed?id=10445 Where input tax credit was not availed, taxable value for sale of a used motor vehicle is the difference between the sale consideration and the written down value of the asset as per income tax depreciation on the date of supply; GST is leviable on that margin. The margin scheme does not apply if input tax credit was claimed, in which case GST is chargeable on the transaction value or value determined under valuation rules, and a negative margin yields no GST liability. en-us Thu, 09 Jun 2022 10:22:12 +0530 Sat, 26 Aug 2023 11:51:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10445 Where input tax credit was not availed, taxable value for sale of a used motor vehicle is the difference between the sale consideration and the written down value of the asset as per income tax depreciation on the date of supply; GST is leviable on that margin. The margin scheme does not apply if input tax credit was claimed, in which case GST is chargeable on the transaction value or value determined under valuation rules, and a negative margin yields no GST liability. Articles Goods and Services Tax - GST Thu, 09 Jun 2022 10:22:12 +0530 https://www.taxtmi.com/article/detailed?id=10445