Exchange of Car

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....xchange of Car<br> Query (Issue) Started By: - Ethirajan Parthasarathy Dated:- 28-12-2018 Last Reply Date:- 1-1-2019 Goods and Services Tax - GST<br>Got 1 Reply<br>GST<br>A GST registered person excha....

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....nges his old car for new car. The car Company credits him with 1) value of old car 2) Exchange Bonus and 3) Loyalty bonus. Item No. 1 is subject to GST as per notification No.8/2018 dated 25th Jan....

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....uary 2018. Are loyalty Bonus and exchange bonus are also subject to GST. Reply By HIREGANGE& ASSOCIATES: The Reply: The exchange value fixed for the old car in excess of the book value shall be lia....

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....ble for GST @18% or 12% as the case may be as per notification No.8/2018 dated 25th January 2018. Loyalty Bonus and Exchange bonus is the reduction in the sale price of the new car (in the form of di....

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....scount) - No GST attracts on the same. Regards Sudhir V. S [email protected]<br> Discussion Forum - Knowledge Sharing ....