Gst on used car
This query is : Resolved
11 August 2018
Dear Sir,
In our Ltd Company we have purchase car in 2006 year and now sold in FY 2018-19.
Purchase Cost--780000/-
Depreciation--741000/- (Till FY 2016-17)
Balance WDV ---- 39000 (Residual Value 5%)
We sold the Car for Rs.75000/-
Any GST applicable on Car Sales Bill & Some CAs say that GST is not applicable ..
Please advise the same in above matter.
Thanks & Regards
NK
In our Ltd Company we have purchase car in 2006 year and now sold in FY 2018-19.
Purchase Cost--780000/-
Depreciation--741000/- (Till FY 2016-17)
Balance WDV ---- 39000 (Residual Value 5%)
We sold the Car for Rs.75000/-
Any GST applicable on Car Sales Bill & Some CAs say that GST is not applicable ..
Please advise the same in above matter.
Thanks & Regards
NK
11 August 2018
Since the car is sold for Rs.75000/-, there is a margin of Rs.36000/- (75000-39000), GST is applicable on the margin.
11 August 2018
But other CAs advise no GST applicable .
why they are saying this type
why they are saying this type
11 August 2018
No idea about that. You ask them why.
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