Since there is no difference between new and second hand goods, the rates for used goods will be the same as for new goods. If the 28% gst rate is applicable on a car, then the 28% gst rate is applicable on the second hand car.
What is the GST rate for second hand cars?
The council of the Goods and Services Tax decided to reduce the tax on used cars from 18% to 12 to 18%. The cess on used cars was abolished by the 25th council meeting of the Goods and Services Tax. There was an additional cess ranging from 1% to 15% on pre-owned cars before the tax was applicable.
Is GST applicable on sale of used car by company?
Yes, the goods and services tax will be applied. The margin amount is the difference between the sales value of the car and the income tax.
How much is Tata Harrier GST?
The rate was changed from 22% to as amended and as per the Notification No. 1/2017-Compensation Cess.