Sales Tax Rules, 2006

CHAPTER-XVIII

MISCELLANEOUS PROVISIONS

From: 2023-12-07 - To: 0000-00-00 1[164A. Supply of used vehicles.- (1) Where a registered person is engaged in the business of purchasing and selling used vehicles from general public on which sales tax had already been paid at the time of import or manufacturing, the value of the supply shall be worked out in accordance with the sub-rule (2). (2) The value of supply shall be worked out in accordance with the following formula, namely:- A-B Where- A is the consideration in money, including all charges and fees but excluding the amount of sales tax charged, received by the registered person from the buyer of the used vehicle; and B is the consideration in money, including all charges and fees, paid by the registered person to the seller of the used…