supply of capital assets

161 views 1 replies
I have supplied capital assets being motor vehicle on which no ITC has been availed...
Will such supply be liable to GST?
thank you
Replies (1)
As per the definition of supply u/s 7 of CGST Act if you have made such supply in the course of or furtherance of business and for consideration irrespective of the fact that you have not availed the credit, it will qualify for the definition of supply. So gst will be leviable.
However if you have supplied without consideration and have not availed the ITC then gst will not be leviable as per sec 7 of CGST Act read with schedule 1 to the same section. As it will be a permanent transfer of business assets on which itc has not been availed.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details