Do we need to pay GST on sale of used car & exchange value?

I am an automobile dealer. we also deal with purchase and sale of old car from the customer. Now,

1. Do we need to pay GST on exchange value?

2. Do we need to pay GST on the sale of used car? If yes, how much GST do we need to pay and how do we calculate that?

 

 

Asked on June 26, 2017 in Automobile.
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1 Answer(s)

Yes, you have to charge GST in fair transaction value of used car also. The GST rate will be 28%. Use Online GST Calculator to calculate payable GST – http://www.gstforumindia.in/gst-calculator/

Answered on July 5, 2017.
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Your Answer

Gen GST