13 July 2024
We are a private limited company and are selling our car to another private limited company. Problem is the buyer is asking for an invoice which we are saying we are unable to provide because our nature of business is not car sales. The Buyer's nature of business is also not car sales. Is it alright for us to make an invoice? or should we make a note? If yes, what do we state on it? Thank you for your time
14 July 2024
You have to make an invoice with 18% GST if you are selling your car above the book value. GST applicable on sale value in excess of book value. If you are selling less than book value invoice not required.
CAclubindia
