Discussions Forum | ||
Home Forum Goods and Services Tax - GST This | ||
A Public Forum. Anyone can participate to share knowledge. |
||
---|---|---|
We acknowledge the contributions of Experts/ Authors. | ||
Submit new Issue / Query |
||
Taxability on Sale of Old & Used Commercial Vehicle, Goods and Services Tax - GST |
||
|
||
Taxability on Sale of Old & Used Commercial Vehicle |
||
Hi, I have purchased a Mahindra Bolero Camper (Goods carrying vehicle having tonnage capacity less than 5MT) in the year 2013 (HSN Code - 87042190) and on which no ITC was availed. The WDV as on 01.04.2020 in the books is 147350 and i am selling it after using it for more than 5 years for ₹ 120000/-. I wanted to know what is the GST Tax liability on the sale of above vehicle, Whether to be taken on transaction value or not and what will be the GST tax rate and also what about compensation cess? Posts / Replies Showing Replies 16 to 16 of 16 Records Page: 1
After reading all replies, Nutshell is that NO GST payable in the case Sale price is lesser than WDV and its payable only if your Sale price is greater than wdf i.e. on Difference positive amount. Please correct me if I have wrongly understood. Page: 1 Old Query - New Comments are closed. |
||