CAR SALE AND INVOICE TO BE RAISED

[X Y]

Registered taxpayer has sold car on loss/profit as per WDV method of Income Tax Act, Which document, he should issue-Bill of Supply or Tax Invoice. If Bill of supply/Tax invoice is issued, whether to be reported in GSTR-1

[Shilpi Jain]

This is not an exempt supply. Just that if there is a loss no GST is payable.

So go ahead and issue tax invoice.

AI Summary

Tax invoice requirement: issue tax invoice for car sale; loss does not create exemption and may result in no GST
The sale of the car is not an exempt supply and the transaction requires issuance of a tax invoice; selling at a loss does not convert the sale into an exempt supply and may result in no GST being payable, but the taxpayer should still issue a tax invoice.