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GST applicability on second hand car

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Tax Practioner
240 Points Posted on 09 September 2017
A person registered under GST is purchasing a second Car from a unregistered person for his own use. Should he be liable to pay GST under reverse charge.
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On 09 September 2017 at 22:13 Report
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353 Points Posted on 09 September 2017
https://www.financialexpress.com/industry/used-car-gst-no-levy-on-sales-by-individuals-says-hasmukh-adhia/738704/
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On 09 September 2017 at 23:17
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Student CA FINAL
219 Points Posted on 10 September 2017
NO HE WILL NOT LIABLE TO PAY GST AS HE HAVE PURCHASED IT IN PERSONAL CAPACITY NOT FOR BUSINESS PURPOSE
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On 10 September 2017 at 00:49
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Chartered Accountants
86 Points Posted on 10 September 2017
Since it is Not a Business Transaction there is no need to Pay any GST... But show it in Income Tax Return...
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On 10 September 2017 at 01:46
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Tax Practioner
240 Points Posted on 10 September 2017
Can I show this car in my books in assets size and claim depriciation?
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On 10 September 2017 at 08:33
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Student CA FINAL
219 Points Posted on 10 September 2017
NO YOU CANNOT SHOW IT IN BOOKS BECAUSE IT IS FOR PERSONAL USE NOT A BUSINESS ASSET
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On 10 September 2017 at 09:15
Guest

pass a entry for such tranction in capital a/c 

and one more thing capital should show debit balance

after passing this entry 

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On 10 September 2017 at 11:34
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ca
359 Points Posted on 10 September 2017

you need not pay any GST

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On 10 September 2017 at 14:14
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FCA
997 Points Posted on 10 September 2017
Agree with all above..you need not pay gst even under reverse mechanism also becoz the car is for personal use and for the business purpose.
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On 10 September 2017 at 20:20
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Chartered Accountant
242 Points Posted on 11 September 2017
No GST is payable if purchased in Personal Capacity
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On 11 September 2017 at 07:20


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