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if GST applicable on buying back company car
I availed Company Car in the month of February, 2017 I.e well before GST came into force. I have been paying regular EMIs ro my company from my salary. Now as I am leaving my company so want to buy back company Car on written down value. but my company is asking me to pay GST on the written down value which takes the cost of the car higher than cost of a new car. Kindly clarify if I need to pay GST on the written down value or I can buy this car by paying the Written Down Value only.
Replies (1)
I don't think gst should be levied as selling of cars is not in furtherance of business for company plus if I go by perspective of selling capital goods then also gst is not payable because as per definition of capital goods in gst input tax credit should be availed but no such itc is availed in case of car
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