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GST liab on sale of capital good
i have purchased a 4 wheeler in 2014_15, and capitalise it in the books and no i have sold it in year 2020 so whether it is liable to gst ?
Replies (3)
Please go through Notification No.08/2018 - Central Tax Rate.
This notification relates to sell of old vehicles so i want to clarify that is it relates to dealers of second hand vehicles or to any individual who has used his car and then sell it
If sale price is more than your capital value on the date of sale, you have to pay GST on difference of the values as per your vehicle described in notification no 18/2018.
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