I have a generator (which I purchased 2006 on 10 lakh rupees) now I want to sale this generator on 4.0 lakh , Can I sale generator without gst or including gst ( 4.72 lakh)
If u are Regd dealer, old tax has already been claimed as ITC on the basic of ur turnover.while u sale it u issue an supply invoice,which may collect as gst and paid to govt.or if it purchase by a Regd dealer from a URP,the Regd dealer issue an invoice ,gst paid to govt during the last of that months.
It is an earning income on this part of seller.who will b paid gst on the differencem value.Not calculated Depreciation of goods for this purpose, because which has already been calculated for past years,which will b shown in the Balance sheet of the taxp payer.
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