TaxTMI 
TaxTMI 
GST on Used Cars
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....ST on Used Cars<br> Query (Issue) Started By: - Ethirajan Parthasarathy Dated:- 24-2-2020 Last Reply Date:- 25-2-2020 Goods and Services Tax - GST<br>Got 1 Reply<br>GST<br>A company sells a used car i....
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....n Jan 2020 after claiming depreciation u/s 32 of Income Tax Act 1961. They have to pay GST on surplus over WDV realized by such sale. In IT records, depreciation has been claimed upto 31/03/2019. Shou....
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....ld they calculate proportionate depreciation upto 31/12/2019 for arriving at surplus ?? There is no provision under Income Tax Act for proportionate claim of depreciation upto date of sale. Please cl....
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....arify. Reply By PAWAN KUMAR: The Reply: As per my view, income tax act specify time limit of six months for claiming depreciation. Therefore in your case six months have passed, you may select full ....
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....rate of depreciation fifty percent extent.<br> Discussion Forum - Knowledge Sharing ....