Old Vehicle sold by a pvt ltd

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Rupesh Jain (Querist)
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05 October 2023 a pvt ltd registered in GST doing busines of PVC retial business. want to sale old car buy 3 year ago. what the HSN code and rate of GST on sale of this old car.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 October 2023 Is it sold above the book value.

Rupesh Jain

Rupesh Jain (Querist)
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05 October 2023 one car is sold on book value as per comapny act. which is less than income tax value .
second is sold on above the book value as per company act which on the same as per income tax wdv.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 October 2023 No GST payable on car sold on book value.
18% GST payable on the excess of book value car sold in excess of book value.
Not to consider income tax value.

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