Gst liability on sales of old lorry

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Rakesh Sharma (Querist)
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05 July 2019 Dear Experts, we have purchased a lorry in April-2013 for transporting of goods for business purchase only. Also
we have not taken any ITC of Excise duty & VAT.

Now, today we want to sale this lorry while taking benefit of Notf. No. 8/2018 Central Tax (Rate) dtd. 25-01-2018.
And the depreciated value is less than the consideration. (Sales Value = 4,15,000 and Depreciated value = 3,24,000).
Should we charge any GST on this supply?

Kindly guide us.

Rakesh Sharma

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 July 2019 Yes charge 18% GST on 91000.

Rakesh Sharma

Rakesh Sharma (Querist)
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06 July 2019 Thanks for your prompt reply Sir. What we do when the depreciated value is 415000 and
the sales value is 324000?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 July 2019 No GST payable..............

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