Dear sir/madam,
There are two sister concern involve in this transaction, 1st firm showing opening balance of a car and in 2nd firm purchasing a new car in exchange of the car of 1st firm and by taking a loan. What is the treatment under gst.
Thanking you
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gst on sale of Fixed assets
Replies (2)
this is not for business you can't take
if both firm have different GST number than first firm will charge GST to 2nd firm and second firm will not take input on GST as it is a block credit.after that 2nd firm will charge GST on sale of car to agency.please reply me if i am wrong.thanking you.
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