My question is.
Proprietor purchased car and shown in fixed asset and claim depreciation on it, after few years he sold that car to one person. So do we need to issue tax invoice, e-invoice and e-way bill ?
Kindy help me ...wdv is 500000
Sale value is 590000
GST on sale of fixed-asset vehicle: Rule 32(5) margin scheme applies if no ITC; otherwise tax on full consideration A proprietor sold a car previously shown as a fixed asset; if input tax credit (ITC) on the vehicle was not claimed, GST under the margin scheme (Rule 32(5)) is payable only on the margin (sale minus written down value) - here Rs. 90,000 at the applicable rate; if ITC was claimed, GST is payable on the full sale consideration of Rs. 5,90,000. An e-way bill is required if the vehicle is transported. An e-invoice is required for B2B supplies when the supplier's aggregate turnover meets the statutory threshold. The tax invoice should state application of the margin scheme and include usual invoice particulars. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
