Resale depreciated motor car for less than income tax wdv
This query is : Resolved
13 March 2023
in books, wdv as per inc tax is 1 lac, sale proceeds is 90k. so i got to pay gst on 10k ?
(dealer is small proprietor dealing in cloth)
my view --> yes. negative margin of supply has to be paid on gst rate on bk value / wdv as per inc tax
(dealer is small proprietor dealing in cloth)
my view --> yes. negative margin of supply has to be paid on gst rate on bk value / wdv as per inc tax
13 March 2023
No GST to be paid. If sale proceeds would have been 110000 then GST would have been paid on Rs 10000 profit.
Since you are selling at a loss no GST is payable. Totally exempt
Since you are selling at a loss no GST is payable. Totally exempt
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
