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Margin Scheme GST for Second-Hand Goods Dealers Explained
How dealers in used cars, electronics, and jewellery can pay GST only on their margin.
The GST margin scheme lets dealers in second-hand goods pay tax on the margin between purchase and sale price instead of the full sale value. Here's how it works and who can use it.
How the Margin Is Taxed
GST applies only to the difference between your selling price and purchase price, reducing your tax outgo significantly.
Who Can Use It
Dealers in used cars, electronics, jewellery, and other second-hand goods who do not claim input tax credit on their purchases.
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Margin Scheme GST
GST under the margin scheme for second-hand goods dealers — used cars, electronics, and jewellery.