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GST on sale of Motorcar, Goods and Services Tax - GST

Issue Id: - 115882
Dated: 11-1-2020
By:- NISHANT SHAH
GST on sale of Motorcar

  • Contents

Dear All,

My Partnership firm had purchased Motorcar in Pre-GST regime and had been used exclusively for the purpose of Business& Profession. We claimed depreciation till date and while computing its current value, loss is occured. Now, our firm want to sell this motorcar, what implication arised from GST point of view.?

Now, following question arise

1) whether we need to pay GST on sale of Motorcar?

2) if so on which amount do we need to pay GST ??

3) & if no then please provide me supported reference for non-applicability of GST & vice-versa.

Thanks to all experts in advance.

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Posts / Replies

Showing Replies 1 to 6 of 6 Records

1 Dated: 11-1-2020
By:- CA Venkata prasad Pasupuleti

1. If the margin is negative, no GST liability arises.

2. Same as above

3. Refer Notification No. 8/2018-C.T. (Rate), dated 25-1-2018


2 Dated: 11-1-2020
By:- NISHANT SHAH

Thanks Sir for your valuable reply with ref.


3 Dated: 12-1-2020
By:- KASTURI SETHI

In support of the reply of Sh. Venkata prasad Pasupuleti, CA, pl. also see page 138-139 of Vol.29, Part-4, of GST Law Times, Issue 24th October, 2019.


4 Dated: 13-1-2020
By:- NISHANT SHAH

Kasturi Sir can you please elaborate the suggested reference since I don't have paid version

to watch said book.?


5 Dated: 13-1-2020
By:- KASTURI SETHI

Pl. let me know your email Id. I shall send scanned copy of relevant page.


6 Dated: 13-1-2020
By:- NISHANT SHAH

canishantnshah@gmail.com


1

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