Stock in trade converted in to fixed assets

This query is : Resolved

murali up (Querist)
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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

CA. Jinendra Sethia

CA. Jinendra Sethia (Expert)
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04 February 2019 Have to pay GST and No ITC available

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murali up

murali up (Querist)
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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??