Sales of old lorry

This query is : Resolved

Rakesh Sharma (Querist)
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16 March 2019 Respected Experts,

We are manufacturer & Pvt. Ltd. Company and purchased Lorry in Pre-GST regime w/o taken any ITC of VAT & Excise in 2014.

Now we want to sale the above lorry in GST Regime. Consideration is Rs. 2,30,000/- & depreciated value is 4,05,000/- after claimed
depreciation u/s 32 of the Income Tax Act. And the margin of above supply is in negative. (Company act depreciation is not considered)

Can we sale the above lorry without pay any GST while taking benefit of Notf. No. 8/2018-Central Tax (Rate) dtd. 25-01-2018.

Please advise me. Its very urgent.

Regards,

Rakesh Sharma

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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17 March 2019 Yes no GST applicable on such sale.

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