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GST liability on sale of used car of Company

This query is : Open 
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(Querist)
18 November 2023 Dear Friends,

I shall be grateful if you can share your opinion on the GST liability of a A Pvt Ltd company which sold a used car recently. The company is not registered in GST as there is no turnover in the company. The facts are as follows:

Car was originally purchased in 2012 for Rs 7.50 lacs app, Sold in Nov, 2023.
Sale Consideration amount Rs 2.50 Lacs.
WDV of the car on 31/03/2023 as per last audited balance sheet.

1) As per Companies Act,2013 : Rs 37108
2)As per Income Tax Act : Rs 1.26 lacs

Profit and loss on sale of car
1) As per companies Act- Profit-- 2.13 lacs
2) As per IT Act- Profit-- Rs 1.24 lacs

My queries are :
1)Is the company liable to pay GST on sale of car and at what rate.
(At present the company does not have GST number)

2)If there is any tax applicable in case of sale of company car please inform.

Please give valuable advice in the above matter.

Thanks & regards
N Kadam

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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
18 November 2023 In my opinion there is no GST liability as company has no GST registration.
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CA. Bhavik P. Chudasama

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CA. Bhavik P. Chudasama (Expert)
18 November 2023 Since you are not Registered under GST Act, you do not require to pay any GST on the same
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RAJA P M

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RAJA P M (Expert)
18 November 2023 Yes I agreed with above replies. There is no GST liability for the sale of Car.
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