Sale of truck

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This discussion addresses GST and TDS implications when a private limited company sells trucks to another private limited company. Key questions revolve around whether GST is payable to the supplier and if TDS needs to be deducted from the sale value. Guidance is provided on how GST depends on input tax credit (ITC) or Cenvat credit and the truck's engine capacity, while TDS is generally not applicable on the sale of goods, including capital assets.

TARIQUE RIZVI

TARIQUE RIZVI (Querist)
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07 March 2020 Ours is a pvt ltd company and we are holding two trucks which are to be sold to some other private limited company. There are certain queries on such transactions as follows :

Whether GST shall have to be paid to the supplier ?

Whether TDS shall have to be deducted by the supplier against the sale value ?

Please guide me and oblige.

Ok

RAJA P M

RAJA P M (Expert)
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09 March 2020 What about the purchase and WDV details of the vehicle...?!

Akash Monwani

Akash Monwani (Expert)
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09 March 2020 GST on the Vehicle Depends on whether you have availed ITC or Cenvat Credit ?
Secondly What is engine capacity of Truck?

With regards to TDS , TDS is not applicable on sale of goods including capital goods