We are transferring or selling vehicle to employee form company to employee on basis of below calculation. Original Asset value -7,99,997/-(Purchase Value of Company) , Sale Date on 01/09/2017 sales value on sale date is Rs.5,32,435/- (after depreciation) depreciation value up to sale date is Rs.2,67,562/-, but we are transferring to employee of Rs.4,92,000/-.
which value we have consider for GST calculation sales value or transferring value
04 December 2018
Transfer value is the proper value in case of second hand goods. However, as transfer is being done to ex-employee; the department may object tot his value. It shall be safer to take book value for the purposes of GST payment.
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