Vehicle Sale in GST

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When selling a vehicle purchased more than four years ago to an unregistered party, GST implications need careful consideration. Generally, 18% GST is applicable on the sale value exceeding the vehicle's book value. If the sale price is less than the book value, no GST is typically charged. For GST purposes, consider the individual asset's book value rather than block of asset concepts used in income tax.

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(Querist)
19 March 2021 We, Proprietor concern sold a vehicle (Asset purchasesmore than 4 years before) to an unregistered party. May I know what all factors should consider as per GST?
Should I raise GST Bill and pay GST for the sale of vehicle?

please reply
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
19 March 2021 18% GST applicable on sale value in excess of book value. No GST in case of sale less than book value.
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Abdul Rahim

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Abdul Rahim (Querist)
19 March 2021 Should we consider the block of asset for realizing profit or loss (like income tax)?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
19 March 2021 No, for GST consider individual asset book value.
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Abdul Rahim

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Abdul Rahim (Querist)
19 March 2021 Thankyou sir, Can you please clear this too https://www.caclubindia.com/experts/details.asp?mod_id=2836494
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