Gst- sale of motor car
This query is : Resolved
SOUMYA I SHETTY
(Querist)
07 October 2017
motor car (Fixed asset) sold by registered proprietorship firm to individual at a loss. whether gst chargeable
07 October 2017
Profit or loss on sale of Fixed Assets is not a consideration. If you have availed Cenvat on the said car in past years, you have to pay GST at the time of sale. In this case flat GST is not applicable but it has to be calculated by reducing the GST at certain % for use of Car.
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