Gst on used car
This query is : Resolved
17 December 2018
Please help in following case -
A Ltd. selling its old Car to B Ltd (Car Dealer) in exchange of other Car Purchase on 30.11.18
Old Car Valued Rs.148000
WDV as per books on supply date Rs. 20000
WDV as per Income tax Rs.118000
GST to be charged on (148000 - 20000) or (148000 - 118000) ?
Also how to generated GST Tax Invoice ?
A Ltd. selling its old Car to B Ltd (Car Dealer) in exchange of other Car Purchase on 30.11.18
Old Car Valued Rs.148000
WDV as per books on supply date Rs. 20000
WDV as per Income tax Rs.118000
GST to be charged on (148000 - 20000) or (148000 - 118000) ?
Also how to generated GST Tax Invoice ?
17 December 2018
Value of the car should be open market value of that old car.
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