repossession and selling of defaulters assets.

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Vishal Y (Querist)
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12 April 2017 Sir whether repossession and selling of defaulters gold or vehicle by co-operative credit society attracts GST?

Rajesh Kumar

Rajesh Kumar (Expert)
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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.

Vishal Y

Vishal Y (Querist)
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13 April 2017 Thank u sir.

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