GST of 18% to be levied on sale margin of a car
The GST on the margin of sale for used vehicles, including electric ones, has been revised to 18%. GST is payable only on the margin between purchase price and sale price. For depreciated vehicles, GST applies only if the sale price exceeds the depreciated value. Negative margins incur no GST liability.
The GST on the margin of sale for used vehicles, including electric ones, has been revised to 18%. GST is payable only on the margin between purchase price and sale price. For depreciated vehicles, GST applies only if the sale price exceeds the depreciated value. Negative margins incur no GST liability. What's Your Reaction?
