ITC on Purchase of Car and Reversal of ITC & levy of GST on Sale after say 2 years

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....TC on Purchase of Car and Reversal of ITC & levy of GST on Sale after say 2 years<br> Query (Issue) Started By: - shailendra singh Dated:- 4-10-2017 Last Reply Date:- 4-10-2017 Goods and Services Tax ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....- GST<br>Got 1 Reply<br>GST<br>Dear All, Please consider a case where Company &#39;A&#39; purchases a Car for transportation of passengers and sells it after 2 years of use. (a). Whether Company &#3....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....9;A&#39; was right in claiming ITC at time of purchase of car? (b). Is there any provision for reversal of ITC since the Car was sold after using it for 2 years? (c) Whether &#39;A&#39; needs to cha....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rge GST at time of selling the Car? (d) Does the &#39;Yellow&#39; or &#39;White&#39; number plate makes any difference for the purpose of ITC ? Thanks!! Reply By Himansu Sekhar: The Reply: A. Yes....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... B.yes ,sec 18(6) of cgst act C.the same amount as mentioned at B above D. No difference. White means personal use. ITC not available.<br> Discussion Forum - Knowledge Sharing ....