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Gst liablity on sale of university Bus
What is the liablity of sale of university old bus. can university liable any type of tax.
Replies (1)
Universities are exempt from GST for providing educational services. Since sale of Old bus is not covered there, it will be liable for GST.
However you can make use of Notification 8/2018 and pay GST under Margin method. If sale less purchase price is negative then no need to pay GST.
However you can make use of Notification 8/2018 and pay GST under Margin method. If sale less purchase price is negative then no need to pay GST.
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