EVEN as the social media is abuzz with memes and outrage over GST on sale of used cars, government sources said unlike the popular perception, GST would not be levied if the margin of sale is negative.
The government had earlier clarified that no GST would be levied if the transaction is between two unregistered persons. It has also been clarified that no new tax has been levied, and that the rate has been increased from 12% to 18% on some passenger vehicles.
As per the sources, GST is payable only on the value representing the margin of the seller -- the difference between sale amount and the depreciated value of a passenger vehicle.
Esta historia es de la edición December 25, 2024 de The New Indian Express Hubballi.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 25, 2024 de The New Indian Express Hubballi.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Booming Bumrah
PACER, WHO BURST ON TO THE SCENE SIX YEARS AGO, HAS GOTTEN BETTER WITH TIME TO BECOME ONE OF THE MOST INFLUENTIAL BOWLERS OF HIS ERA
Where will India captain bat?
IT'S been a question that followed India captain Rohit Sharma from the moment he landed in Perth.
SA eye WTC final in 2-Test series vs Pak
SOUTH AFRICA will be eyeing a place in the World Test Championship final with an all-seam attack against Pakistan in the first Test, starting Thursday.
Coaching & playing: Twin role with purpose for badminton nat'l's finalists
SHUTTLERS Lokeshviswanathan and Naveen P's journey is a tale of perseverance, hard work and resourcefulness. In the just-concluded national championships in Bengaluru, the doubles specialists from Tamil Nadu were one of the standout performers as they reached the title match before going down with a fight.
PL leaders Liverpool host Leicester, Arsenal prepare for life without Saka
CHRISTMAS Premier League chart-toppers Liverpool are overwhelming favourites to see off struggling Leicester on Boxing Day (Thursday).
Honouring Belagavi's Role in India's Struggle for Independence
The session's meticulous organisation reflected the determination and unity of the freedom movement.
Padayatras, Five Guarantees, Inspired by Gandhiji
Mahatma Gandhi's influence inspired the Padayatras and Five Guarantees initiative, an honest attempt to fulfill Gandhiji's vision. The initiative benefits 1.82 crore youth with various schemes and works to preserve India's social fabric.
Padayatras, Five Guarantees
Mahatma Gandhi's influence on the Congress party is undeniable.
Gandhi's Bold Step Towards National Reconciliation
CENTENARY CELEBRATION OF 1924 BELGAUM CONGRESS AND THE PATH TO SWARAJ
BPCL to invest ₹6,100 cr for refinery in Andhra
To be one of the largest refineries on East Coast
