Sale of old used car
This query is : Resolved
20 October 2018
WE ARE REGISTERED UNDER GST & WE SOLD ONE MOTOR CAR VEHICLE
TO ANOTHER REGISTERED DEALER. THE SAID CAR IS CAPITALIZED IN THE
BOOKS OF ACCOUNT. NOW DEPRECIATED VALUE IS ZERO.
MY QUESTION IS WHAT IS THE RATE OF GST ON SALE OF OLD CAR (CGST + SGST ) WHETHER CESS IS APPLICABLE OR NOT.
IF DEPRECIATED VALUE IS ZERO THEN IT IS REQUIRED TO PAY GST. OR NOT.
PLEASE GUIDE US.
TO ANOTHER REGISTERED DEALER. THE SAID CAR IS CAPITALIZED IN THE
BOOKS OF ACCOUNT. NOW DEPRECIATED VALUE IS ZERO.
MY QUESTION IS WHAT IS THE RATE OF GST ON SALE OF OLD CAR (CGST + SGST ) WHETHER CESS IS APPLICABLE OR NOT.
IF DEPRECIATED VALUE IS ZERO THEN IT IS REQUIRED TO PAY GST. OR NOT.
PLEASE GUIDE US.
20 October 2018
Pay 18% on sale value 9% cgst and 9% sgst. Sale value as deprecated value is zero.
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