we had brought the aria car in name of one of a partner & from six years depreciation was taken by our partnership firm
Now we had decided to sale it our neighbour who is
unregister dealer.
Pls, confirm is gst has to be paid in this case.
Thanks, Dinesh.Banthia
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Sale of used car
Replies (8)
Yes GST is applicabe. As its purchase in vat regime so on margin (Sale -Purchase) GST is applicable.
GST Rate 12 % & 18% is applicable as per CC engine of vehicle mentioned in Notification. 8/2018, CT (R)
More then 1500 CC , leanth exceeding 4000 MM, GST is 18%
Else ,.. 12%
GST Rate 12 % & 18% is applicable as per CC engine of vehicle mentioned in Notification. 8/2018, CT (R)
More then 1500 CC , leanth exceeding 4000 MM, GST is 18%
Else ,.. 12%
Pankaj sir, you are very grateful. regards,
it is sale - book value , not sale - purchase value
PURCHASE VALUE OF ASSET IS THE BOOK VALUE
THANKS & ALWAYS WELCOME PRASUN JI
Thanks, Rawatji for clarification & hope in future too will get your guidence.Dinesh Banthia
AT YOUR SERVICE !! DINESH JI
if you claim depreciation them written down value is the book value
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