ISSUANCE OF TAX INVOICE IF CAR/BIKE SOLD SHOWN IN FIXED ASSET
This query is : Resolved
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11 January 2026
Dear sir/ madam
my question is
We are registered in gst as proprietor firm . we purchased car/bike and shown this in fixed asset and claim depreciation on this. at the time of selling this car/bike to individual (urd) do we need to issue tax invoice ?
kindly reply me
my question is
We are registered in gst as proprietor firm . we purchased car/bike and shown this in fixed asset and claim depreciation on this. at the time of selling this car/bike to individual (urd) do we need to issue tax invoice ?
kindly reply me
12 January 2026
• Sale of car/bike used as fixed asset is taxable under GST
• Tax invoice must be issued even to URD
• GST rate normally 18%
• Margin scheme may apply if ITC not claimed
• Must be reported in GST returns
• Tax invoice must be issued even to URD
• GST rate normally 18%
• Margin scheme may apply if ITC not claimed
• Must be reported in GST returns
12 January 2026
If margin value is negative (loss) then tax invoice with zero tax or bill of supply need to issue ?
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