Sale of motorcar used for business
This query is : Resolved
13 July 2020
Car sold to non gst person
On what tax to be charged sale minus dep as per it or per book? Whether to prepare tax invoice? How to show in Gstr 3b& gstr1?
If senerio sold to regular gst person what will be the position? Documantation in both case.
On what tax to be charged sale minus dep as per it or per book? Whether to prepare tax invoice? How to show in Gstr 3b& gstr1?
If senerio sold to regular gst person what will be the position? Documantation in both case.
13 July 2020
GST Should NOT be paid.BECAUSE IT IS YOUR FIXED ASSET.
Capital Gain needs to be pay.
if it is your business to sale old vehicles then GST Applicable and to be pay on margins.
Capital Gain needs to be pay.
if it is your business to sale old vehicles then GST Applicable and to be pay on margins.
13 July 2020
Valuation of used car- If depn is claimed in IT, then sale value less WDV as per IT.
If depreciation not claimed in IT then sale vale less purchase value.
Rate of GST will be 18% and you have to raise the tax invoice irrespective of whether buyer is registered under GST or not.
If depreciation not claimed in IT then sale vale less purchase value.
Rate of GST will be 18% and you have to raise the tax invoice irrespective of whether buyer is registered under GST or not.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- FORM 26A APPLICABILITY
- Regarding TDS Applicability For Director Remuneration
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
