Applicability of GST on sale of asset

A private limited company is seeking clarification on whether Goods and Services Tax (GST) is applicable on the sale of a motor bike purchased in 2017, which was bought inclusive of GST, and for which Input Tax Credit (ITC) was not claimed. The asset has since been sold at a loss compared to its purchase price. The discussion explores the implications for company accounts and income tax, with initial advice suggesting GST may not be applicable due to the non-claiming of ITC, treating the sale as a capital profit or loss.