Understanding GST on the Sale of Used Cars by Companies
Is GST applicable on the sale of a used car by a company? Yes, it often is. When a company sells a pre-owned vehicle, GST may apply depending on factors like the car's depreciation, the company’s registration status, and tax rates for used vehicles. Generally, the GST rate is lower for used cars compared to new ones, but specifics can vary based on the type and value of the car. Consulting with tax professionals or reviewing GST norms ensures compliance and clarity on the applicable tax obligations.
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