ISSUANCE OF TAX INVOICE ON SALE OF BIKE/ CAR SHOWN IN FIXED ASSET

[Allauddin Patel]

Dear sir/ madam

my question is

we are registered in GST as proprietor frim. we purchased bike and car and shown in fixed asset and claim depreciation , at the time of selling bike and car to individual person who is not register in gst , do we need to issue tax invoice to that individual ...?

kindly reply to me

AI Summary

Sale of depreciated fixed assets (motorbike and car) to unregistered buyer: tax invoice required if taxable supply A registered person proposes to sell a motorbike and car previously capitalised as fixed assets and on which depreciation has been claimed, to an unregistered individual, and seeks clarification on whether a tax invoice must be issued. The prescription sought concerns documentation under GST for a taxable supply of goods by a registered person, including whether sale of fixed assets requires issuance of a tax invoice even when the recipient is not registered. The operative consequence is that, if the disposal constitutes a taxable outward supply, the registered person must issue the prescribed tax invoice to the buyer and account for GST accordingly, notwithstanding the buyer's unregistered status.