GST on sale of used car

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As per notification no. 08/2018 (central tax rate) a registered person who has claimed depreciation under section 32 of the Income-Tax Act, 1961(43 of 1961) on the old and used vehicle, the taxable value shall be the difference between the consideration received for supply of such vehicle and the depreciated value of such goods on the date of supply, and where the margin of such supply is negative, it shall be ignored.

Provided that the supplier of such goods has not availed input tax credit as defined in clause (63) of section 2 of the Central Goods and Services Tax Act, 2017, CENVAT as defined in CENVAT Credit Rules, 2004 or the input tax credit of Value Added Tax or any other taxes paid, on such vehicles.