I have the business of second-hand cars purchase & sale i have the GST no which percent is applicable on second cars & which hsn code is for all cars
GST rate on old car will be the same as on the new car or same kind. GST only applies on the margin made by registered dealer on sale of such old car.
If car is sold by an individual no GST is applicable but if he sales his car to a car dealer then GST is applicable on the profit part of the dealer which is sale price of the car dealer – purchase price of the car dealer tax ranging from 28 to 43%.
Sir Please tell any cess is applicable on margin.
Is margin is calculated by subtracting the expenses on the car which I sold on warranty.