Sale of vehicle by company

What would be taxable value and tax rate on sale of vehicle used in business in mentioned scenarios

1. Vehicle purchased before GST and sold with consideration or without consideration.

2. Vehicle purchased after GST and credit availed and sold before 5 years with consideration or without consideration.

 3. Vehicle purchased after GST and credit availed and sold after 5 years with consideration or without consideration

Replies (4)
Quick Summary
This discussion explores the Goods and Services Tax (GST) implications when a company sells a vehicle used in its business. It covers scenarios for vehicles purchased before and after GST implementation, considering whether input tax credit was availed and the timing of the sale relative to the 5-year period. The query also touches upon Section 17(5) regarding blocked credits and specific considerations for Goods Transport Agencies (GTAs) and courier companies.

Sec 17(5) blocked credit under gst.

if its used in business of transportation then its not covered in blocked credit.

Is GTA need to choose as a Tax payer at the time gst registration?and is he need to maintain invoices , against each builty/consignment note..?

This query is for courier company taking input tax credit against vehicle for using in their business.

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