Sale of capital goods
This query is : Resolved
11 May 2018
Dear Sir.
I have sold a old vehicle used for business as capital goods and did not take ITC during VAT regime. In this case, Will GST be paid to govt? if yes, what is GST Rate?
thanking you.
bikash rai
I have sold a old vehicle used for business as capital goods and did not take ITC during VAT regime. In this case, Will GST be paid to govt? if yes, what is GST Rate?
thanking you.
bikash rai
11 May 2018
Yes. Rate 12/18% on the margin. Please see notification No. 8/2018 -Central Tax
(Rate) dt. 25th January, 2018.
(Rate) dt. 25th January, 2018.
12 May 2018
tax on margin
margiin= Sale value-depreciated value
margiin= Sale value-depreciated value
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