TaxTMI 
TaxTMI 
sale of car
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....ale of car<br> Query (Issue) Started By: - YUWRAJ KOTHARI Dated:- 21-12-2019 Last Reply Date:- 24-12-2019 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>1.Business line is manufacture of Tran....
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....sformer. Motor Car purchased in VAT era (No ITC taken) used as capital asset, now sold, whether GST is applicable on sale of motor car. If applicable, whether GST is to be charged on profit on sale of....
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.... motor car or the entire sale proceeds.? 2. If car was purchased in GST era and sold in GST era(no ITC taken but depreciation has been taken),whether GST is payable and if payable on what value GST s....
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....hall be payable i.e. whether on sale realisation value or profit on sale of motor car ? Reply By Ganeshan Kalyani: The Reply: As per Notification no. 8/2018-CTR of 2018 , supply of old and used moto....
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....r vehicle when input tax credit was not taken, the GST applicable is on the differential value of sale proceed and depreciated value as per income tax. In your case in either case GST will become app....
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....licable only on the margin as worked out as per aforesaid formula. Reply By KASTURI SETHI: The Reply: I concur with the views of Sh.Ganeshan Kalyani Ji. Reply By Mahadev R: The Reply: I concur wit....
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....h views expressed by experts<br> Discussion Forum - Knowledge Sharing ....