ITC on personal car used by managing director

If you have not availed input tax credit on car earlier , and sold the same Car in future, then GST applicable on Margin ( Sale Value less Purchase Value or deprecated Value) , please refer notification 8/2018 CT ( Rate) dated 23/1/2018  for other details , and confirm , check  any amendments in notification , if no then  GST  applicable as per the notification . 

I hope Car was used for Business Purpose by company .  

Take more Opinion on this .  

GST is essentially a tax on Commercial transactions, hence mainly those supplies that are in the course of furtherance of business qualify as supply under GST , as you mentioned in the query Car purchase in the name of Company , therefore this car must be Asset side on your balance sheet , Also I request you to refer notification, mentioned in my earlier reply.

Take more Opinion  .