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Home Acts & Rules GST Draft-Bills-Reports FAQ on GST dated 21.9.2016 based on Draft Model GST Chapters List Chapter 4 Meaning and Scope of Supply This

Question 10 - An individual buys a car for personal use and after a year sells it to a car dealer. Will the transaction be a supply in terms of MGL? Give reasons for the answer. - FAQ on GST dated 21.9.2016 based on Draft Model GST

FAQ on GST dated 21.9.2016 based on Draft Model GST
Chapter 4
Meaning and Scope of Supply
  • Contents

Q 10. An individual buys a car for personal use and after a year sells it to a car dealer. Will the transaction be a supply in terms of MGL? Give reasons for the answer.

Ans. No, because supply is not made by the individual in the course or furtherance of business. Further, no input tax credit was admissible on such car at the time of its acquisition as it was meant for non-business use.

 
 
 
 

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