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.
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MARKET MECHANISM DEBATE: ARTICLE 6 KEY TO EMISSIONS REDUCTION
The 29th United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, concluded amid widespread disappointment and criticism.
MARKET MECHANISM DEBATE: 6 KEY TO EMISSIONS REDUCTION
The 29th United Nations Climate Change Conference (COP29) in Baku, Azerbaijan, concluded amid widespread disappointment and criticism.
Olympic heartbreak and no net gain for badminton
The ever-reliable discipline for India, in terms of providing the thrill & medals at elite competitions, endured a difficult year with some of the top shuttlers struggling for form, writes Anmol Gurung. Missing out on a medal in Paris was a new low...
Mohammedan play out goalless draw vs Odisha
MOHAMMEDAN SC held Odisha FC to a goalless draw at the Kishore Bharati Krirangan in the Indian Super League (ISL) on Friday to break their five-game-long losing streak in the competition.
Smith regains midas touch
IN many ways, it was coming. From the moment he got that century in Brisbane, Steve Smith seemed like he was going to pile on.
Six minutes of chaos for India
ASHASVI Jaiswal turned around and looked at Virat Kohli as Alex Carey took the bails off at the striker's end.
No Extra Pressure for Slot as Liverpool Win
ARNE Slot insists Liverpool's commanding position at the top of the Premier League table has led to no extra strain during his first season in charge at Anfield.
Osamu Suzuki, architect of India's automobile revolution, dies at 94
OSAMU SUZUKI, chairman of Suzuki Motor Corp (SMC), passed away from lymphoma on Wednesday, December 25, 2024, the company announced in a statement on Friday. He was 94.
RBI Allows UPI Access via Third-Party Payment Apps
The Reserve Bank on Friday allowed the popular unified payments interface (UPI) access to prepaid payment instruments (PPIs) through third-party applications, making it easier for users to link their digital wallets to UPI-enabled apps.
Manmohan Singh: The silent Prime Minister or a humane economist?
EXPECTATIONS of Dr Manmohan Singh, the trailblazer of India's new economic policy, is no more.
