I'm an exporter of cashew and had a Car that is used by one of my employee. I had bought this car under VAT regime and had not availed any Input Tax Credit, although depreciation had been claimed as per income tax act. On 30 Sep 2017 under GST regime I had sold this car. Now, I would like to know what would be impact of GST on this transaction.
Thank you very much for your kind reply. There is one more doubt that transaction took place before the existence of Notification No.8/2018 Dated 25-01-2018. Could you please clarify the same and oblige.
CAclubindia
