Skip to main content
Microsoft Dynamics NAV forum
Unanswered

GST on Old Vehicle Trading (IN Version)

editSubscribe (0) ShareShare
ReportReport
Posted on by 1,112

Dear All,

My Renowned client's business is old/New Vehicle trading. The Client purchases old Vehicles as Items & Sales them to different types of Customers. The GST register Customer & Unregistered Customer are involved in these types of dealing. Our Government has released a notification to implement the new GST calculation policy on old and used vehicles. The GST will be calculated on the (profit) margin of the Supply. The Margin of Supply shall be difference between sale price and purchase price and where the margin of such supply is negative, GST calculation shall be ignored.

Suppose, client has purchases a old vehicle without any GST & the Purchase cost is Rs. 100000/-. Now the client wants to sale the same Vehicle with the price of Rs. 150000/- with GST 18%. In this Case GST18% will be applicable on Rs. 50000/-.

How do I calculate the GST on Old Vehicle Sales ?

Kindly reply.

Attachments

Helpful resources

Quick Links

New Blog Features Released!

Check out the new community blog features for viewers and authors…

Setting Up Knowledge Sources for Copilot…

Look at how configuring a comprehensive knowledge base is crucial…

Demystifying Copilot with Georg Glantschnig…

Industry experts answer burning questions directly from our amazing Community…

Leaderboard

#1
Andre Arnaud de Calavon Profile Picture

Andre Arnaud de Cal... 283,126 Super User

#2
Martin Dráb Profile Picture

Martin Dráb 222,646 Super User

#3
nmaenpaa Profile Picture

nmaenpaa 101,138

Featured topics

Product updates

Dynamics 365 release plans