MOTOR VEHICLE (USED CAR) SOLD AT GAIN OR LOSS. QUERIES CHARGEABLE TO GST ? AND IF YES THAN AT WHICH RATE AND ON WHICH AMOUNT IF 01) DEPRECIATION CLAIMED 02) DEPRECIATION NOT CLAIMED MOTOR VEHICLE (USED COMMERCIAL VEHICLES SAY LORRY, TRUCK, TANKERS ETC) SOLD AT GAIN OR LOSS QUERIES CHARGEABLE TO GST ? AND IF YES THAN AT WHICH RATE AND ON WHICH AMOUNT IF 01) GST ITC CLAIMED 02) GST ITC NOT CLAIMED 03) PURCHASED BEFORE GST REGIME PLEASE GUIDE US FOR ANY OTHER RELEVANT POINTS. THANK YOU

Reply— 

As per notification no. 08/2018 (central tax rate) dated 25.01.2018, 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.

Rate of tax is also available in above mentioned notification.