We are manufacturer & Pvt. Ltd. Company and purchased Lorry in Pre-GST regime w/o taken any ITC of VAT & Excise in 2014.
Now we want to sale the above lorry in GST Regime. Consideration is Rs. 2,30,000/- & depreciated value is 4,05,000/- after claimed depreciation u/s 32 of the Income Tax Act. And the margin of above supply is in negative. (Company act depreciation is not considered)
Can we sale the above lorry without pay any GST while taking benefit of Notf. No. 8/2018-Central Tax (Rate) dtd. 25-01-2018.
CAclubindia
