GST Impact on old car sold

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This discussion clarifies whether a company with a GST number is liable for GST when selling an old car at a profit. The general rule suggests that 18% GST may apply to the profit made on the sale. Notification No. 8/2018 - Central Tax (Rate) dated 25.01.2018 provides specific guidance on this matter.

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(Querist)
23 April 2021 A company hold GST Number and sold old car with profit.

any GST liability on company.. please reply as per rule or provisions applicable on company .
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 April 2021 18% GST applicable on profit on sale.
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RAKESH

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RAKESH (Querist)
23 April 2021 please reply as per rule or provisions applicable on company .
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 April 2021 As per rules..................
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CA Puja Sharma

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CA Puja Sharma (Expert)
24 April 2021 You can refer to Notification No. 8/2018 -Central Tax (Rate) dated 25.01.2018
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