Sirs,
Ours is Private Limited company,
We have purchased car on 29-05-2018.
The same car sold out on 01-09-2020.
on purchase input ITC not claimed, bcz ineligible.
so on sale output not charged and not collected.
So please advice not charging GST is correct or wrong. And in GSTR-1 in which table we have to show.
Thanks & Regards
Venu Prasad
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Sale of Car - GST payable
Replies (4)
It's not correct, you have to charge GST (to be calculated in prescribed manner and at prescribed rate) and also Deposit that GST to government...
And also required to be reported in GSTR 3B and 1.
And also required to be reported in GSTR 3B and 1.
Please refer notification 8 / 2018 dated 25/1/2018 , if you have not claim ITC on car
Dear sirs,
thanks for your replies, sale considerations received Rs.20.00 lacs, value after depreciation 31-03-20 Rs. 17.48 lcas, Purchase value is Rs. 30.87 lacs. margin is less, so tax payable or ignored.
Thanks & Regards
Venu Prasad
You please confirm with your company CA also .
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