Whether gst would be attracted on used assets?

This query is : Resolved

Akhil Gupta (Querist)
Follow

12 February 2018 Dear Member,

I am working in a Company engaged in (GTA agency) Road Transportation and Invoices under RCM basis.

Now my Company is going to sale used assets like car and furniture.

Please suggest whether this activity would attract G.S.T. as we are not dealing or trading business of these activity rather we are disposing them and purchase a new one.

Thanks
Akhil Gupta
9871080046

Udaya Chandran

Udaya Chandran (Expert)
Follow

12 February 2018 As per my opinion, if the value of such sale is within Rs.20 lakhs p.a. then no need of registration and tax invoice.

Message likes : 1 times

Akhil Gupta

Akhil Gupta (Querist)
Follow

12 February 2018 My company is already registered with GST and having GSTN as we have warehousing operations also.

Whether we need to make GST invoice for sale of car.

Upgrade to CAclubindia Pro. Subscribe Now!

Arpit

Arpit (Expert)
Follow

12 February 2018 yes you need to charge the GST

Message likes : 1 times

Udaya Chandran

Udaya Chandran (Expert)
Follow

12 February 2018 I agree with Arpit, you need to charge GST on sale of car, if you're registered.

Message likes : 1 times