TaxTMI 
TaxTMI 
TaxTMI 
OWN USE VEHICLE SALES DONE FOR LOSS ITS GST PAYABLE FOR TOTAL SALES ?
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....WN USE VEHICLE SALES DONE FOR LOSS ITS GST PAYABLE FOR TOTAL SALES ?<br> Query (Issue) Started By: - DURAI RAJ Dated:- 9-8-2025 Last Reply Date:- 12-8-2025 Goods and Services Tax - GST<br>Got 4 Replie....
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....s<br>GST<br>A register Taxpayer Bought Two Wheeler Value of Rs.110000 for own use and same Purchase ITC not claimed FY 2019-20 and sold Vehicle FY 2021-22 for loss of around 26000 after Depreciation a....
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....nd GST Payable for Total Sales ? or not need to pay kindly suggest provisions of act Reply By Ganeshan Kalyani: The Reply: If the sale value is less than the asset value after depreciation as on the....
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.... date of sale then NO GST. Reply By Raam Srinivasan Swaminathan Kalpathi: The Reply: Please refer Notification 8/2018-Central Tax (Rate). Reply By Sadanand Bulbule: The Reply: In terms of Section ....
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....7 of CGST Act, GST applies only to supplies made in the course or furtherance of business. If the asset is used purely for personal use (not in business), its sale is not a supply under CGST Act. So t....
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....he question of ITC & OPT does not arise on assets used for personal use. Reply By Shilpi Jain: The Reply: You will have to refer to Notification 8/18 Central tax rate to see if your vehicle falls un....
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....der any of the line items mentioned therein to get the benefit of no tax on this transaction.<br> Discussion Forum - Knowledge Sharing ....