Motor Trade

Key requirements

For a new vehicle, exclude included ARF, COE, registration fee and road tax before calculating GST on the remaining selling price. If the total is GST-inclusive, apply the tax fraction to that remaining taxable component. Second-hand sales may use GMS only when all conditions are satisfied, or the discounted-price scheme taxing half the selling value where applicable. GMS and discounted-price invoices have different input-recovery implications. Retain the regulatory-charge breakdown and vehicle purchase history. A scheme is not a blanket reduction for every sale, and misuse can lead to recovery of under-accounted tax and penalties.