I am a dealer in imported used cars. Am I supposed to charge the customer a gst only on the profit or on the entire sales price?

I am a dealer in imported used cars. I bring the car in India by paying 100% customs duty + cess & pay gst @ 43% by adding cost to it. Am I supposed to charge the customer a GST only on the profit or on the entire sales price?

Asked on August 13, 2017 in Automobile.
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6 Answer(s)

To pay igst at customs.

Answered on August 14, 2017.
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My query is what’s the quantum on which gst us to be charged is it on entire sales price or only on profits?

Answered on August 14, 2017.
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You have to charge GST on the amount calculated after including all tax of customs ex. 200000 is the cost and 100% is custom duty and cess. the igst rate is 43% GST will be charged on 200000 200000=400000 i.e. Rs. 400000×43%=172000.

Answered on August 17, 2017.
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In my previous reply I have not mentioned about profit uspr bhi lgega gst i.e. 400000(cost custom) profit total pr gst lgega.

Answered on August 17, 2017.
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GST is charged on the taxable value.

Answered on August 19, 2017.
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My query is still answered. I repeat, when I want to sale the car on which I have already paid customs n igst, do I have to now charge gst to customers on the profit element or again on the entire sales value as it amounts to double taxation the same as per Mr Adhia, is that to avoid double taxation, the gst on second hand cars is to be charged only on profit I want to reconfirm the same.

Answered on August 20, 2017.
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Your Answer

Gen GST