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ITC Reversal on sale of used commercial vehicle by Company - Goods and Services Tax - GSTExtract Company had bought Eicher tempo 4 years ago in AUG 20 and now it has to be sold to consumer who is unregistered person. Company had claimed ITC 28% while purchasing this Eicher considering same as using for commercial purpose . 1. Now whether company is liable to reverse ITC proportionately since company has used same vehicle for 4 years. So whether company is liable to reverse ITC of 1 year as per Rule 43 ? 2. Whether company has to charge GST also on Sales Bill in case it is sold for less than WDV Price ? i.e., Book loss.
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