GST ON SALE OF OLD TWO WHEELER

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..... GST ON SALE OF OLD TWO WHEELER
Query (Issue) Started By: - KAMAL SETHI Dated:- 10-1-2024 Last Reply Date:- 20-1-2024 Goods and Services Tax - GST
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GST
Please provide guidance .....

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..... on the Goods and Services Tax (GST) implications for the sale of an old two-wheeler(Bike) used in business, which is shown as a fixed asset. * The two-wheeler in question was second hand purchased .....

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..... from unregistered person in july 2018& depreciation was claimed . * No Gst was paid & claimed as input during the acquisition of the vehicle Reply By KALLESHAMURTHY MURTHY: The Reply: Dear Sir, T .....

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..... he captioned vehicle has been taken into account as a fixed asset. When it is resold, the transaction falls u/s 7(1) of the CGST Act. So the tax is required to be collected and discharged irrespective .....

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..... of whether ITC was availed or not. Reply By Shilpi Jain: The Reply: GST would be liable on sale assuming you are a registered person. This would be liable on the sale value at applicable rate.
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..... Discussion Forum - Knowledge Sharing .....

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