Dear Sir,
We have a fixed assets (car) four wheeler in books of accounts. Every year we have claimed deperication on above. Now we wants to sale of car customer need gst sale invoice so please suggest how we can raise gst sale invoice because its under group fixed assets not stock item we are using busy software.
Before answering you query, please reply following questions
1) Are you registered under GST ?.
2) Have you taken input tax credit, when purchased the Car ?
3) what is the status?. means Sole proprietorship, partnership Firm, LLP , Company, or any other status.
Registered in GST
ITC not claimed because it was blocked ITC
Sole proprietorship
1 )Ok , so as per section 2(19) of the CGST Act 2017 , when gst registered person Capitalise Car in the books accounts same will be treated as Capital Goods therefore please refer section.
2) when registered person under Gst, sold goods in your case car , for consideration in the course of furtherance business same will treated as supply as per section 7 of the CGST Act , and GST applicable, therefore you have to issue GST tax invoice as per section 31 of the CGST Act , and format has been given in rural 46 of the CGST rule 2017, for sale of car ( Capital Goods)
3) you must refer notification 8/2018 dated 25/1/2018 in detail , when sale of old vechile car for GST rate , amount, and if not claim input tax credit etc .
Take more opinion on this.
Further , I would like to inform you that , check any changes in rates w.e.f 22/9/2025 mentioned in the above notification (8/2018) , as rates has been rationalize in so many cases , If not then same rate will applicable.
Take help of your CA with above information and if require more Opinion on the query. Correct me if I wrong.
Okay
But Can you suggest how i will raise invoice because its not showing under stock item.
Its under ledger group fixed assets.
In busy software
I am sorry to say ,I do not have any knowledge of configurations in BUSY software , having knowledge only in Tally ERP / Tally Prime .
CAclubindia
