Stock in trade converted in to fixed assets
This query is : Resolved
04 February 2019
Dear All
Should we need to pay GST on this transaction ? if yes Can we take input Tax Credit ? if the Stock in trade is a Car ?
Regards
Should we need to pay GST on this transaction ? if yes Can we take input Tax Credit ? if the Stock in trade is a Car ?
Regards
CA. Jinendra Sethia
(Expert)
04 February 2019
Have to pay GST and No ITC available
Message likes :
1 times
06 February 2019
Ok. Thanks for your replay
But the process in this case is that after using this vehicle as Test drive it would be sold to customer at a reduced price.
So up on Conversion as test drive vehicle ---- Pay GST ... Then the same test drive vehicle is sold to customer .... Again GST ????
ie 2 Time GST payment on Same items??
But the process in this case is that after using this vehicle as Test drive it would be sold to customer at a reduced price.
So up on Conversion as test drive vehicle ---- Pay GST ... Then the same test drive vehicle is sold to customer .... Again GST ????
ie 2 Time GST payment on Same items??
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