The Lorry, which was used for business purposes, has been sold. The seller had availed the Input Tax Credit (ITC) on its purchase. It was purchased on 01.05.2019 for Rs.1,400,000, considering to sell for Rs.200,000, and the Written Down Value (WDV) in the books was Rs.300,000. What is the applicable GST rate , GST and taxable value of the above transaction? and also whether any ITC want to reverse?
Menu
Sale on used Lorry
Replies (1)
Applicable gst rate are very easy
Recent Topic
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
Related Topics
CAclubindia
