Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
No GST on sale of used car at loss
The New Indian Express Jeypore
|December 25, 2024
As per sources, GST is payable only on the value representing the margin of the seller
EVEN as the social media is abuzz with memes and outrage over GST on sale of used cars, government sources said unlike the popular perception, GST would not be levied if the 'margin' of sale is negative.
The government had earlier clarified that no GST would be levied if the transaction is between two unregistered persons. It has also been clarified that no new tax has been levied, and that the rate has been increased from 12% to 18% on some passenger vehicles.
As per the sources, GST is payable only on the value representing the margin of the seller -- the difference between sale amount and the depreciated value of a passenger vehicle.
This story is from the December 25, 2024 edition of The New Indian Express Jeypore.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The New Indian Express Jeypore
The New Indian Express Jeypore
Maintenance application against minor husband maintainable, rules HC
WHILE dealing with a case involving child marriage and a maintenance claim against a minor husband, the Allahabad High Court has held that application under Sections 125 and 128 Criminal Procedure Code (CrPC) seeking maintenance against minor was maintainable.
1 min
October 01, 2025
The New Indian Express Jeypore
MP univ tech students punished for ragging juniors plot 'Gen-Z' protests
After probe, panel recommends lodging of FIR
1 mins
October 01, 2025
The New Indian Express Jeypore
SHARE MAHANADI WATER WITH TIME-BOUND PLAN
THE dispute between Odisha and Chhattisgarh over the Mahanadi river water finally seems headed towards an amicable resolution, if the recent warmth between the two states is anything to go by.
1 mins
October 01, 2025
The New Indian Express Jeypore
Pilots to face tougher alcohol test rules
A massive step towards ensuring safer air travel for all has been taken by the aviation regulator, the Directorate General of Civil Aviation (DGCA).
1 mins
October 01, 2025
The New Indian Express Jeypore
IN MISSION MODE FOR CRITICAL TECH
For decades, India's brightest young minds often dreamed of working on technologies that seemed out of reach-chips, rockets, quantum computers. Those dreams are no longer distant
3 mins
October 01, 2025
The New Indian Express Jeypore
Now, SI recruitment exam deferred over ‘irregularities’
CONTINUING the recent trend of cancellations and postponement of competitive examinations over irregularities and paper leaks, the state government on Tuesday announced the deferment of written test for the Combined Police Service Examination 2024.
1 min
October 01, 2025
The New Indian Express Jeypore
Student lynched in Gorakhpur after bike crash
AKASH Nishad, 19, an 11thgrade student from Pali Bankatwa village, was beaten to death by a mob on Monday night after his bike collided with another motorcycle in Sahjanwa tehsil in Gorakhpur.
1 min
October 01, 2025
The New Indian Express Jeypore
Top Naxal leaders key targets as ops intensify
'No safe places for extremists in Bastar'
1 mins
October 01, 2025
The New Indian Express Jeypore
1st assured transit time container train between Delhi & Kolkata from today
THE Railway Board is set to launch its first assured transit time (ATT) container train service on Wednesday between Delhi's Tughlakabad and Kolkata's Shalimar via Agra and Kanpur.
1 mins
October 01, 2025
The New Indian Express Jeypore
Will rather quit than ally with BJP for statehood, says Omar
CHIEF Minister Omar Abdullah on Tuesday asserted that he would resign rather than aligning with BJP for the restoration of state status to Jammu and Kashmir Union Territory.
1 mins
October 01, 2025
Listen
Translate
Change font size