Does Sale of Fixed Asset - Motor Car, attracts GST ?
This query is : Resolved
22 January 2021
Dear Sir / Madam,
There is a fixed asset - motor car which is to be sold at a price more than the book value which will lead to profit on sale of car. Also the Assessee, is not in the business of buying & selling of Car.
Whether GST is applicable at the time of sale ?
If yes, then at what value - sale price or profit ?
There is a fixed asset - motor car which is to be sold at a price more than the book value which will lead to profit on sale of car. Also the Assessee, is not in the business of buying & selling of Car.
Whether GST is applicable at the time of sale ?
If yes, then at what value - sale price or profit ?
22 January 2021
IF YOU HAVE NOT TAKEN INPUT OF GST THEN GST SHOULD BE PAID ON MARGIN /PROFIT.
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