GST on sale of Motorcar

[NISHANT SHAH]

Dear All,

My Partnership firm had purchased Motorcar in Pre-GST regime and had been used exclusively for the purpose of Business& Profession. We claimed depreciation till date and while computing its current value, loss is occured. Now, our firm want to sell this motorcar, what implication arised from GST point of view.?

Now, following question arise

1) whether we need to pay GST on sale of Motorcar?

2) if so on which amount do we need to pay GST ??

3) & if no then please provide me supported reference for non-applicability of GST & vice-versa.

Thanks to all experts in advance.

AI Summary

GST on sale of motorcar: no GST liability where the seller's margin on sale is negative under rate rules.
GST on sale of a motorcar used exclusively for business is determined by the seller's margin; where the computed margin on disposal is negative, respondents indicate no GST liability, relying on the rate notification addressing margin treatment for used goods.