Wdv for old truck sale

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Student
45 Points Posted on 07 July 2025

What depreciation method will be used for calculation of wdv for sale of old truck. (For calculation of gst on profit)

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On 07 July 2025 at 12:36 Report
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Quick Summary
When selling an old truck, determining the correct Written Down Value (WDV) is crucial for calculating GST on any profit made. This discussion explores which WDV method should be applied for this purpose. Specifically, it questions whether the WDV should be calculated according to the Companies Act or the Income Tax Act to ensure accurate GST liability.

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Master in Accounts & high court Advocate
9620 Points Posted on 07 July 2025

For calculating GST on profit, we need to determine the WDV method  of the asset sold. 

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On 07 July 2025 at 15:21
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Profession
28261 Points Posted on 08 July 2025

The wdv as per companies act or income tax act. 

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On 08 July 2025 at 13:37

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