GST on sale of car

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If a company transfer a car to director it will attract gst?
if attract then company sells a car less than Book value to Director,what is the impact of GST?
Replies (5)
Yes, it shall be a deemed supply as per schedule I and supplier has to pay an amount determined according to sec 18(6).

Sec18 (6) In case of supply of capital goods or plant and machinery on which input tax credit has been taken, the registered person shall pay an amount equal to the input tax credit taken on the said capital goods or plant and machinery reduced by such percentage points as may be prescribed or the tax on the transaction value of such capital goods or plant and machinery determined under section 15, whichever is higher.

Dear

Does GST applicable on sale of old car before GST applicable which ITC not taken previous regim in Service Tax or VAT ?

Dear

Does GST applicable on sale of old car before GST applicable which ITC not taken previous regim in Service Tax or VAT ?

Dear Does GST applicable on sale of old car purchased before GST applicable which ITC not taken previous regim in Service Tax or VAT ? sorry for twice posting

Read more at: https://www.caclubindia.com/forum/gst-on-sale-of-car-440164.asp?offset=1

The car value in books not include Any Input tax credit and The car value of transfer is less than Book value,
what are the implications in GST?


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