Home Forum Goods and Services Tax - GST Month 4 2021 2021 (4) This
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Sale of used car to employees by company - Goods and Services Tax - GSTExtract Suppose Company X is purchasing car for employees at ₹ 100/- . It pays ₹ 85/- by itself and recovering ₹ 15/- from employees at the time of purchase.Company records cars in it's fixed asset at ₹ 85/- only. Now after 6 years company sold the car to employees at ₹ 10 /- and transfer the ownership to employees. So what will be the transaction value for company at the time of sale? ₹ 15 paid earlier at the time of purchase has to be included or not? Whether the company has to pay the tax on ₹ 15/- recovered from employees at the time of purchase?
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