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asked about Buy Car

over 1 year ago

If I am buying a used car do I still need to pay for GST ? If yes the price will be deduct from my car ( trade in ) then the balance will be the GST ? Example 100k( used car -30k trade in value ) = 70 k then GST I am paying ?? How does it work ?

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2 Answers

0
John

Hi there, thanks for submitting your question. Yes, you will be charged GST if you are buying a used car from a GST-registered business (used car dealer).

You may learn more about the process here: https://www.iras.gov.sg/irashome/GST/GST-registered-businesses/Specific-business-sectors/Motor-Trade/

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over 1 year ago

0
Damian

As a consumer, you do not need to worry about GST. For instance, If u are offered 30K as the trade in amount for your car;and the used car is 70K, you would only need to pay 40K.

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over 1 year ago