TMI - Tax Management India. Com
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

Sale of Lorry -GST implication, Goods and Services Tax - GST

Issue Id: - 118315
Dated: 6-1-2023
By:- vignesh VSACCOUNTOPRIVATELIMITED
Sale of Lorry -GST implication

  • Contents

Sir. Lorry used for business purpose is sold now, Seller and buyer both are registered under GST, Seller has availed ITC on the purchase of Lorry and not claimed Cess. is 1. GST to be charged on the sale Consideration? 2 .Is Compensation cess to be Charged?

Post Reply

Posts / Replies

Showing Replies 1 to 5 of 5 Records

1 Dated: 7-1-2023
By:- Shilpi Jain

If this vehicle does not get covered under notification 8/2018-CTR - GST and cess would be liable on the sale.

Why is the doubt?


2 Dated: 8-1-2023
By:- vignesh VSACCOUNTOPRIVATELIMITED

Thank u mdm for ur reply. Compensation cess on purchase was not claimed or adjusted against ITC , can we setoff the same while selling the Lorry?


3 Dated: 9-1-2023
By:- Ganeshan Kalyani

Refer : Government Exempted the Cess applicable on sale of Used vehicle through Notification No. 1/2018 Compensation Cess Rate


4 Dated: 10-1-2023
By:- Padmanathan Kollengode

1. Since ITC under GST was availed on purchase, Notification No 8/2018 dated 25-01-2018 will not apply and hence, provisions of section 18(6) r.w. rule 40 shall apply.

2. In my opinion, Compensation cess is also applicable since the Entry 42A of Notification No. 1/2017 compensation cess (rate) dated 28-07-2017 shall not apply as ITC has been availed.


5 Dated: 15-1-2023
By:- Shilpi Jain

Looks like some portion of my reply in point 1 is missed to be posted.

I agree with the post by Mr. Padmanathan.


1

Post Reply