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Vehicle Sale in GST

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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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