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TMI Blogsale of carX X X X Extracts X X X X X X X X Extracts X X X X ..... 1.Business line is manufacture of Transformer. Motor Car purchased in VAT era (No ITC taken) used as capital asset, now sold, whether GST is applicable on sale of motor car. If applicable, whether G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ST is to be charged on profit on sale of motor car or the entire sale proceeds.? 2. If car was purchased in GST era and sold in GST era(no ITC taken but depreciation has been taken),whether GST is pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yable and if payable on what value GST shall be payable i.e. whether on sale realisation value or profit on sale of motor car ? - Reply By Ganeshan Kalyani - The Reply = As per Notification no. 8/2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 018-CTR of 2018 , supply of old and used motor vehicle when input tax credit was not taken, the GST applicable is on the differential value of sale proceed and depreciated value as per income tax. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In your case in either case GST will become applicable only on the margin as worked out as per aforesaid formula. - Reply By KASTURI SETHI - The Reply = I concur with the views of Sh.Ganeshan Kaly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ani Ji. - Reply By Mahadev R - The Reply = I concur with views expressed by experts - sale of car - Query Started By: - YUWRAJ KOTHARI Dated:- 21-12-2019 Goods and Services Tax - GST - Got 3 Repli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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