Anju
asked almost 3 years ago
I am a dealer of pre-owned cars purchased from individuals who won't give me an input tax credit. Will India's GST policy have a "Margin Scheme," as in other countries with a GST?
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veeru
answered over 2 years ago
The margin scheme is a way of working out the GST you must pay when you sell property as part of your business. You can only apply the margin scheme if the sale of the property is taxable. If you purchase property where the margin scheme was applied to the sale, you cannot claim a GST credit for the GST included in the purchase price of the property.
