GST on sale of Motorcar

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..... Dear All, My Partnership firm had purchased Motorcar in Pre-GST regime and had been used exclusively for the purpose of Business Profession. We claimed depreciation till date and while computing its current value, loss is occured. Now, our firm want to sell this motorcar, what implication arised from GST point of view.? Now, following question arise 1) whether we need to pay GST on sale .....

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..... of Motorcar? 2) if so on which amount do we need to pay GST ?? 3) if no then please provide me supported reference for non-applicability of GST vice-versa. Thanks to all experts in advance. - Reply By CA Venkata prasad Pasupuleti - The Reply = 1. If the margin is negative, no GST liability arises. 2. Same as above 3. Refer Notification No. 8/2018-C.T. (Rate), dated 25-1-2018 .....

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..... - Reply By NISHANT SHAH - The Reply = Thanks Sir for your valuable reply with ref. - Reply By KASTURI SETHI - The Reply = In support of the reply of Sh. Venkata prasad Pasupuleti, CA, pl. also see page 138-139 of Vol.29, Part-4, of GST Law Times, Issue 24th October, 2019. - Reply By NISHANT SHAH - The Reply = Kasturi Sir can you please elaborate the suggested reference since I don' .....

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..... t have paid version to watch said book.? - Reply By KASTURI SETHI - The Reply = Pl. let me know your email Id. I shall send scanned copy of relevant page. - Reply By NISHANT SHAH - The Reply = [email protected] - GST on sale of Motorcar - Query Started By: - NISHANT SHAH Dated:- 11-1-2020 Goods and Services Tax - GST - Got 6 Replies - GST - Discussion Forum - Knowledge Sharing, repl .....

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..... y post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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