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Regarding Transfer Of Motor Vehicle Without Consideration., Goods and Services Tax - GST

Issue Id: - 114374
Dated: 4-12-2018
By:- Shyam Agarwal
Regarding Transfer Of Motor Vehicle Without Consideration.

  • Contents

Sir, Mr.A purchased a Motor Car as a business assets in GST Era. But as ITC is blocked,He has not taken the ITC of the same. Now, He wants to Gift the same to his relative WITHOUT CONSIDERATION.

1.Whether GST is payable on Gift of such car as clause 4(a) of Schedule-II says about applicability of GST on business asset even without Consideration, even with or without ITC?

2.If yes, How GST shall be computed

3.whether your reply differ, If He taken away for his personal use?

Posts / Replies

Showing Replies 1 to 2 of 2 Records

1 Dated: 4-12-2018
By:- CASusheel Gupta

Schedule II is to be used only as guidance to classification of any supply, i.e. whether a supply is supply of goods/services.

As per schedule I, disposal of business assets where input tax credit has been availed on such assets shall be treated as supply even if it is without consideration.

No GST is to be charged.

2 Dated: 5-12-2018

GST is not leviable.


Old Query - New Comments are closed.

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