Gst on sale of Truck

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This discussion clarifies GST implications on the sale of trucks for a transportation business. Even if individual truck sales are below £20,000 (20 lacs) and below their Written Down Value (WDV), the aggregate turnover including freight charges may exceed the registration threshold. Consequently, GST registration might be required, and the taxability of the sale depends on whether the sale price is above or below the WDV.

VIPIN GUPTA

VIPIN GUPTA (Querist)

06 July 2021 Dear sir, we are in the business of transportation of goods by road, all the GST on freight is paid on RCM basis. We are selling two trucks one is purchased before GST regeim and one in June 2018. We have not taken any itc of it,. And claiming depreciation. Will we be liable for GST on sale of both trucks. Will we be liable for margin i.e above WDV or not. We have not taken any GST registration and sale value of both trucks is below. 20 lacs. But if combined with freight amount it comes to 2 crores. Do we have to take registration

CA Altamush Zafar

CA Altamush Zafar (Expert)

06 July 2021 The transaction is taxable and therefore you will have to take registration

VIPIN GUPTA

VIPIN GUPTA (Querist)

06 July 2021 Sir if sale price is below WDV in that case wewill not beliable for GST

CA Altamush Zafar

CA Altamush Zafar (Expert)

06 July 2021 Yes if the sale price is below WDV there is no GST.

VIPIN GUPTA

VIPIN GUPTA (Querist)

21 July 2021 Sir the sale price is Rs 16 lacs, do we have to take registration. And other freight receipts are Rs 2 crores. As our agreegrate turnover will be Rs 2.16 Cr or it will be Rs 16 lacs. For calculating our eligibility

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