Question ID :
40803
SALE OF OLD TRUCK (ISSUE OF CHARGING OF GST)
X A business man engaged in trading purchased a Truck of Rs 20 L + GST 28% 5.60 = 25.60 in FY 2019-20. The GSt of Rs 5.60 was taken as input in the FY 2019-20. In CY 2020-21 now he wants to sale the truck for Rs 17 Lacs after deducting dep. My query is whether he will have to charge GST on sale price of truck of Rs 17.00 L + GST 28%. Or Input taken in FY 2019-20 ought to be reversed considering 1 year of usage of machinery in the business. Which option he will have to consider here.
posted by
pradeep kumar agrawal
on
Aug 27 2020 12:00AM