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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- LC charges in relation to Asset purchased should be Capitalised ?
- Copyright software
- Value of property in capital gain
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding TDS Applicability For Director Remuneration
- Transporter Declaration form
- Multiple trade mark
- Sale Incentive booking
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
