Regarding Transfer Of Motor Vehicle Without Consideration.

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..... Regarding Transfer Of Motor Vehicle Without Consideration.
Query (Issue) Started By: - Shyam Agarwal Dated:- 4-12-2018 Last Reply Date:- 5-12-2018 Goods and Services Tax - GST
Got 2 Replies
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..... GST
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 .....

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..... . 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 .....

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..... shall be computed 3.whether your reply differ, If He taken away for his personal use? Reply By CASusheel Gupta: The Reply: Schedule II is to be used only as guidance to classification of any suppl .....

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..... y, 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 w .....

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..... ithout consideration. No GST is to be charged. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: GST is not leviable.
Discussion Forum - Knowledge Sharing .....

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