TaxTMI 
TaxTMI 
GST ON SALE OF OLD TWO WHEELER
X X X X Extracts X X X X
X X X X Extracts X X X X
....ST ON SALE OF OLD TWO WHEELER<br> Query (Issue) Started By: - KAMAL SETHI Dated:- 10-1-2024 Last Reply Date:- 20-1-2024 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>Please provide guidance ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....on the Goods and Services Tax (GST) implications for the sale of an old two-wheeler(Bike) used in business, which is shown as a fixed asset. * The two-wheeler in question was second hand purchased f....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rom unregistered person in july 2018& depreciation was claimed . * No Gst was paid & claimed as input during the acquisition of the vehicle Reply By KALLESHAMURTHY MURTHY: The Reply: Dear Sir, Th....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e captioned vehicle has been taken into account as a fixed asset. When it is resold, the transaction falls u/s 7(1) of the CGST Act. So the tax is required to be collected and discharged irrespective ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....of whether ITC was availed or not. Reply By Shilpi Jain: The Reply: GST would be liable on sale assuming you are a registered person. This would be liable on the sale value at applicable rate.<br> D....
X X X X Extracts X X X X
X X X X Extracts X X X X
....iscussion Forum - Knowledge Sharing ....