Sale of capital goods
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 January 2018
Hi
Is GST applicable on sale of capital goods -vehicles like car , lorry 1) which are used in business and 2) which are not used in business
Reply please
Is GST applicable on sale of capital goods -vehicles like car , lorry 1) which are used in business and 2) which are not used in business
Reply please
26 January 2018
Once you have taken registration Of GST Than you are liable to charge GST on sale of capital goods.
Individual (unregistered) selling to Registered, attracts payment of GST on Reverse Charge Mechanism under Sec 9(4) of CGST Act. section mandates that tax on supply of taxable goods (vehicle in this case) by an unregistered supplier (an individual in this case) to a registered person (the Second Hand Vehicle Dealer in this case) will be paid by the registered person (the Dealer in this case) under reverse charge mechanism.
Individual (unregistered) selling to Registered, attracts payment of GST on Reverse Charge Mechanism under Sec 9(4) of CGST Act. section mandates that tax on supply of taxable goods (vehicle in this case) by an unregistered supplier (an individual in this case) to a registered person (the Second Hand Vehicle Dealer in this case) will be paid by the registered person (the Dealer in this case) under reverse charge mechanism.
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