During one of the GST seminars I attended, we were told used car will be subject to 6% GST. Later I read in the news, supplier of new cars that are yet to be sold can claimed back sales tax and charge GST when it is sold. What happen to car purchased before 1st. April, 10% sales tax already paid, will there be additional 6 % GST when these cars are sold as used cars later?
As i understand if you are selling it privately there will be no gst for the buyer of your vehicle. However if it is sold to a used car say e.g. 50k and he subsequently sell it for 70k then the 20k difference is subject to the 6%. Whether the seller absorbs it or not depends on the market condition and looking at things now it does not look too rosy for them so invariably they would have to aborb the 6% instead of passing it on to the eventual buyer.
From the info I gather funeral service and paraphernalia are GST exempt.
This list is quite comprehensive:
" In the land of the blind the one-eyed-jack is king."
Has anyone come across anything that is cheaper after GST?
The 6 series price drop is the steepest. So i think we all better go buy because we save more than 10k if I am not wrong. If we buy 5 we save even more
Its still on the other side of 200k i think