Gst on sales or transfer of vehicle
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 November 2018
Dear All,
We are transferring or selling vehicle to employee form company to employee on basis of below calculation.
Original Asset value -7,99,997/-(Purchase Value of Company) , Sale Date on 01/09/2017 sales value on sale date is Rs.5,32,435/- (after depreciation) depreciation value up to sale date is Rs.2,67,562/-, but we are transferring to employee of Rs.4,92,000/-.
which value we have consider for GST calculation sales value or transferring value
We are transferring or selling vehicle to employee form company to employee on basis of below calculation.
Original Asset value -7,99,997/-(Purchase Value of Company) , Sale Date on 01/09/2017 sales value on sale date is Rs.5,32,435/- (after depreciation) depreciation value up to sale date is Rs.2,67,562/-, but we are transferring to employee of Rs.4,92,000/-.
which value we have consider for GST calculation sales value or transferring value
Rajesh Kumar
(Expert)
04 December 2018
Transfer value is the proper value in case of second hand goods. However, as transfer is being done to ex-employee; the department may object tot his value. It shall be safer to take book value for the purposes of GST payment.
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