GST on sale of second hand car

This query is : Resolved

allamudi venkata subba rao (Querist)
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15 November 2021 Sir
ours is a private limited co. Purchased second hand car on 30.06.2020 for Rs.34,26,000/-and availed depreciation @15%.Input Tax Not claimed as the car is used by our director.In this month we sold the vehicle to an unregistered person(B2C sale) for Rs.32,58,500/-
Vehicle value in our Books as under:
Vehilcle purchase value Rs.3426000/
Less: dep @15% 513900

Please inform me the gst applicable rate on which amount

B Sathyanarayanan

B Sathyanarayanan (Expert)
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15 November 2021 Since you have purchased on 30.06.2020 and have you avalied ITC , the Eligable ITc is on Sale amount

Gokul Sharma

Gokul Sharma (Expert)
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16 November 2021 calculate and pay inclusive gst on the amount of margin. @18℅

Gokul Sharma

Gokul Sharma (Expert)
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16 November 2021 calculate and pay inclusive gst on the amount of margin. @18℅

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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22 December 2021 GSt is not applicable on sale of car either under section 7(1) or under Schedule I.
Since it is not in the course or furtherance of business it will not constitute supply under section 7(1) and since it was sold for consideration and ITC was not availed on it Schedule I also does not apply.

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