SALE OF VEHICLE(PURCHASED DURING VAT PERIOD)
This query is : Resolved
Harikrishnan
(Querist)
15 March 2022
Ours is a plastic cover manufacturing company located at Kerala. I have purchased a goods vehicle for the delivery of goods on 16-02-2017(VAT PERIOD) worth Rs.4,11,842.00
that is 3,59,687.34 plus 52,154.66(14.50% VAT).
Now I like to sell my vehicle for Rs. 190,000
Do I have to issue a GST bill? Then how do I issue a GST bill?
and I had ordered a new goods vehicle worth Rs. 6,50,000(including GST), for the delivery of goods. Can I avail the input GST?
that is 3,59,687.34 plus 52,154.66(14.50% VAT).
Now I like to sell my vehicle for Rs. 190,000
Do I have to issue a GST bill? Then how do I issue a GST bill?
and I had ordered a new goods vehicle worth Rs. 6,50,000(including GST), for the delivery of goods. Can I avail the input GST?
CA R SEETHARAMAN
(Expert)
16 March 2022
If you are selling it more than book value charge 18% GST only on more value. No GST on case of less value sale.
Yes, you can avail input tax on new vehicle.
Yes, you can avail input tax on new vehicle.
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