Resale of Fixed Assets under GST

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Hi all,

Can anyone please advise me regarding a fixed assets resale (in my case, Car) under GST.? I have already taken the ITC while purchasing the same.

thank you.

Replies (6)

you have to revert back

As per GST law, ITC on Motor Vehicles is not available to all. What business is it used for?

If vehicle was purchased in vat regime then such vehicles when sold will attract GST of 65% if transaction value
Plz read notification 37 cgst act dtd. 13/10/17

In gst regime if any vehicle sold & ITC was avail on that particular then GST is to charged on sale amount & if no ITC was avail, then on profit margin u have charge GST
If You are sell your fixed assets then GST applicable in that Sales. Bcoz, You are registered Dealer.

for Construction Business. 

thank You.

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