Sale of fixed assets, gst on such sale


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Querist : Anonymous

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Querist : Anonymous (Querist)
25 March 2018 A person sold Motor Car at Rs. 1.50 lacs in cash on 20 March 2018. WDV as on 31/03/2017 show Rs. 3.5 Lacs in Audited Report.
Sale Deed not provide amount of Sale consideration.

my question is:

GST Applicable ? How Much? Method to calculate GST?
what entry should be pass in books of accounts.
Can Assesses show sale amount more than actual Sale vale in Cash. any problem.
Sale figure not show in deed, any problem?

26 March 2018 GST not applicable as sale value less than the wdv.

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 March 2018 Sir, if we booked whole consideration in cash received of Rs. 3Lacs, any problem. bqz Sale agreement not show amount of sale.

26 March 2018 Cash receipts should not exceed 2 Lacs.


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