We have purchased new lorry for Rs. 26.88 Lacs for transporting goods in Nov-2018 and taken & utilsed GST around 5.88 Lacs.
Now, we want to sale this lorry as per condition for Rs. 7.50 Lacs + 2.10 Lacs GST. Can we do this or we have to reversed whole claimed GST?
Also, is there any exemption for sale of old Lorry? Is 2.5% exemption per quarter is available for this, if no, for there we can use 2.5% per quarter exemption.
CAclubindia
