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
if its used in business of transportation then its not covered in blocked credit.
This query is for courier company taking input tax credit against vehicle for using in their business.
Malhotra Rajesh & Associates
New Delhi
B.Com
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AJAY SINGH AND CO LLP
Thane
CA Final
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CCI
Pro
CAclubindia
