GST on used vehicles to depend on selling enterprise' nature of biz
Hindustan Times Punjab|December 26, 2024
The Goods and Services Tax (GST) on used vehicles will depend on the selling enterprise's nature of business, officials and experts clarified.
Gireesh Chandra Prasad

NEW DELHI:

That would mean the tax will be different for enterprises which use cars for their business operations from those that use them as stock in trade or as inventory -- for example, a used car dealership.

The Goods and Services Tax Council last week recommended harmonising the tax rate on used cars at 18%, which meant the rate for used small cars, including electric vehicles moved up from 12%. It applies only on the margin of the selling enterprise.

GST is not applicable if one individual sells it to another.

هذه القصة مأخوذة من طبعة December 26, 2024 من Hindustan Times Punjab.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة December 26, 2024 من Hindustan Times Punjab.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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