TaxTMI 
TaxTMI 
Sale of old commercial vehicle
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....ale of old commercial vehicle<br> Query (Issue) Started By: - Syamaprasad Menon Dated:- 29-9-2021 Last Reply Date:- 29-9-2021 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>How the sale of a ....
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....used commercial goods carrier, TATA Ace, bought during the VAT regime, claiming ITC, with the sale value exceeding the WDV by a few thousand, can be legitimately accounted - the rate of GST - will com....
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....pensation cess need be levied etc Reply By KASTURI SETHI: The Reply: If input tax credit under GST or Cenvat credit under Cenvat Credit Rules or ITC under State VAT has been availed on old and used ....
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....motor vehicles, exemption from payment GST Compensation is not available. Compensation Cess is leviable w.e.f.25.1.18. See Notification No. 1/2018-C.C. (Rate), dated 25-1-2018. Rate of cess depends on....
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.... engine capacity. Reply By KASTURI SETHI: The Reply: In this scenario, input tax credit/Cenvat Credit/VAT credit has been availed, hence margin scheme for valuation purpose is not available.Notifica....
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....tion No. 1/2018-C.C. (Rate), dated 25-1-2018 refers. Reply By Syamaprasad Menon: The Reply: thanks for the response<br> Discussion Forum - Knowledge Sharing ....