Author Posts

May 23, 2019 at 6:41 pm

Dear Sir,

Our firm purchased Tempo during 2008-09 for Rs.2.81 lacs. After 10 year used we intend to sale the vehicle  at depreciated value for Rs.24000/- as per balance sheet.  pls clarify whether GST applicable for sale value of Rs.24000/-

May 23, 2019 at 9:30 pm

Have you availed input tax credit?

If not you can pay tax on the margin, otherwise as per sec 18(6)  for every year of usage 20 percentage of the value is to be reduced. In your case  as you already used it for 10 years. Use transaction value as base to pay the tax. For rate of tax and refer this notification.

 

May 24, 2019 at 1:42 pm

Thank you Sir