Question ID :
38212
GST
Sir, we are selling a car which is a business assets the assessee has purchased the same in pre GST regeim and not claimed any ITC on it. On which value we have to pay tax on transaction value or the margin i.e Sales Price - WDV
Posted by
VIPIN GUPTA
on
Jun 17, 2019
Filed Under
GST
Transfer of any business assets liable for gst hence sale of car is liable for gst on transaction value
Posted by
JIMIT DEVENDRABHAI SHAH on
Jun 17, 2019
Answer ID :
77858
Please refer Notification No. 8/2018 -Central Tax (Rate)
Posted by
VISHAL GOLCHHA on
Jun 17, 2019
Answer ID :
77860
GST should be paid on margin of supplier. Refer notification 8/2018.
Posted by
CA. chunauti dholakia on
Jun 17, 2019
Answer ID :
77864
Refer 8/2018 and take acre to compute values if depreciation has been claimed u/s 32
Posted by
SIVADAS CHETTOOR on
Jun 18, 2019
Answer ID :
77868
on the margin only.
Posted by
CA. VENKITARAMAN K V on
Jun 18, 2019
Answer ID :
78907
On margin
Posted by
CA Mohit Singhal on
Jun 23, 2019