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GST applicability on second hand car
A person registered under GST is purchasing a second Car from a unregistered person for his own use. Should he be liable to pay GST under reverse charge.
Replies (9)
https://www.financialexpress.com/industry/used-car-gst-no-levy-on-sales-by-individuals-says-hasmukh-adhia/738704/
NO HE WILL NOT LIABLE TO PAY GST AS HE HAVE PURCHASED IT IN PERSONAL CAPACITY NOT FOR BUSINESS PURPOSE
Since it is Not a Business Transaction there is no need to Pay any GST... But show it in Income Tax Return...
Can I show this car in my books in assets size and claim depriciation?
NO YOU CANNOT SHOW IT IN BOOKS BECAUSE IT IS FOR PERSONAL USE NOT A BUSINESS ASSET
you need not pay any GST
Agree with all above..you need not pay gst even under reverse mechanism also becoz the car is for personal use and for the business purpose.
No GST is payable if purchased in Personal Capacity
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