repossession and selling of defaulters assets.
This query is : Open
12 April 2017
Sir whether repossession and selling of defaulters gold or vehicle by co-operative credit society attracts GST?
Rajesh Kumar
(Expert)
13 April 2017
Difficult question. After you legislate a law, such question comes. These questions are something which was not contemplated even by legislature. Such questions are answered later through judicial interpretations.
Prima facie, it appears to me that such transactions will attract GST. Repossession will not attract GST, but subsequent sale shall attract GST.
Prima facie, it appears to me that such transactions will attract GST. Repossession will not attract GST, but subsequent sale shall attract GST.
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