- The GST Council has recommended a unified 18% GST rate for the sale of all old and used vehicles, including electric vehicles (EVs), simplifying previous tax structures without imposing any new taxes.
- Only registered businesses involved in the buying and selling of old and used vehicles are liable to pay GST; individuals selling vehicles to other individuals are exempt from GST.
- GST is calculated based on the margin between the sale price and the purchase price, considering depreciation claims; if the margin is negative, no GST is payable.
Source A2ztaxcorp
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