M1 Changi

[MIGHTY MAX]

A fren of mine bought a 2nd Honda bike recently...

He wanted to know is there any such thing as GST on used bike?...

 

Bike cost $4k...

down for $1k

Instalment for 24mth(1mth 17+)

2yrs instalment plus downpayment is $5k++

 

 

Need help..if anyone know hows the calculation or assist him to the bikeshop..

[superspeed123]

bro, u buy things sure have GST.

1) Your friend bought what bike??

2) Machine price how much? OTR how much??

3) Insurance how much?

4) D/p $1k , then mean borrow $3k for how long??

5) interest how many percent they charge for second hand bike?? 6 to 8%??

[haoKR]

when purchasing things on installments,most impt is e % they charge every yr

 

so otr is 5k+?

explain detailly leh

[tyltyltyl]

please ask them for the GST reg number. or you can google about GST. :>

 

 

For sale of new vehicles, GST is charged on the Selling Price less Additional Registration Fee (ARF), Certificate of Entitlement (COE), Registration Fee (RF) and Road Tax. ARF, COE, RF and Road Tax are charges imposed by Land Transport Authority (LTA) on vehicle buyers and they do not attract GST.

 

For sale of second-hand vehicles, motor traders may apply either the Discounted Sale Price Scheme or the Gross Margin Scheme.

 

Discounted Sale Price Scheme:

Where PARF/COE rebates or TCOE are sold at or below face value, GST is not applicable. However, where PARF/COE rebates or TCOE are sold above face value, GST has to be accounted on the profit or value-added element.

If you are selling a second-hand motor vehicle, you can charge GST on 50% of the selling price. This is known as the Discounted Sale Price Scheme. You can use it without the requirement of seeking IRAS' approval if you satisfy the condition that the used motor vehicle sold is registered under the Road Traffic Act.

 

Under the Discounted Sale Price Scheme:

GST is charged on 50% of the selling price of the motor vehicle.

Tax invoice should be issued for the supply.

Customer can claim input tax if he satisfies the input tax claiming conditions

[World Misanthropy]

Is the salesperson fat fat dyed hair one?

[-JueLz-]

M1 sucks..

[KeraKing]

if happy with the total price get it la.. if not try to bargain..

 

why m1 sucks?

i got my rare dream bike there and all good experience with m1 and yew heng.. hehe.

[natgw]

M1 sucks..

 

so do u prefer starhub or singtel?

[World Misanthropy]

so do u prefer starhub or singtel?

 

Hahahaha....