GST on sale of Motorcar

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....ST on sale of Motorcar<br> Query (Issue) Started By: - NISHANT SHAH Dated:- 11-1-2020 Last Reply Date:- 13-1-2020 Goods and Services Tax - GST<br>Got 6 Replies<br>GST<br>Dear All, My Partnership firm had purchased Motorcar in Pre-GST regime and had been used exclusively for the purpose of Business& Profession. We claimed depreciation till date and while computing its current value, loss is occure....

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....d. Now, our firm want to sell this motorcar, what implication arised from GST point of view.? Now, following question arise 1) whether we need to pay GST on sale of Motorcar? 2) if so on which amount do we need to pay GST ?? 3) & if no then please provide me supported reference for non-applicability of GST & vice-versa. Thanks to all experts in advance. Reply By CA Venkata prasad Pasupuleti:....

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.... The Reply: 1. If the margin is negative, no GST liability arises. 2. Same as above 3. Refer Notification No. 8/2018-C.T. (Rate), dated 25-1-2018 Reply By NISHANT SHAH: The Reply: Thanks Sir for your valuable reply with ref. Reply By KASTURI SETHI: The Reply: In support of the reply of Sh. Venkata prasad Pasupuleti, CA, pl. also see page 138-139 of Vol.29, Part-4, of GST Law Times, Issue 24....

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....th October, 2019. Reply By NISHANT SHAH: The Reply: Kasturi Sir can you please elaborate the suggested reference since I don&#39;t have paid version to watch said book.? Reply By KASTURI SETHI: The Reply: Pl. let me know your email Id. I shall send scanned copy of relevant page. Reply By NISHANT SHAH: The Reply: [email protected]<br> Discussion Forum - Knowledge Sharing ....