TaxTMI 
TaxTMI 
Sale of car by proprietor in gst
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....ale of car by proprietor in gst<br> Query (Issue) Started By: - Allauddin Patel Dated:- 5-10-2025 Last Reply Date:- 6-10-2025 Goods and Services Tax - GST<br>Got 5 Replies<br>GST<br>My question is. Proprietor purchased car and shown in fixed asset and claim depreciation on it, after few years he sold that car to one person. So do we need to issue tax invoice, e-invoice and e-way bill ? Kindy hel....
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....p me ...wdv is 500000 Sale value is 590000 Reply By Sadanand Bulbule: The Reply: If ITC on the car was not availed (which is common, because ITC on motor vehicles for personal use or passenger transport is blocked under Section 17(5)), then you can apply the margin scheme; Margin Scheme (Rule 32(5) of CGST Rules)-- If ITC was not claimed, GST is payable only on the margin amount of Rs. 9....
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....0,000/- in your case at 18%. If ITC is claimed, then on entire amount of Rs. 5,90,000/- GST has to be paid, despite blocked credit. If it is transported, e-way bill is required. E-invoice depends upon turnover of Rs. 5 Crores and above. Reply By Allauddin Patel: The Reply: Yes ...turn over is above 5cr so we should generte e invoice ... Should we issue tax invoice in items mode mention....
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....ing 1 nos in quantity or accounting mode invoice in tally prime ...? Reply By Sadanand Bulbule: The Reply: E-invoice is required if the supply of goods/services is between two registered persons- B2B supply. If it is normal tax invoice, mention Margin Scheme-Rule 32[5] with all usual particulars. Reply By KASTURI SETHI: The Reply: Also peruse Notification No. 8/2018-C.T. (Rate), dated 25-1-20....
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....18. Reply By Allauddin Patel: The Reply: Thank you sirs<br> Discussion Forum - Knowledge Sharing ....