Gst liablity on sale of university Bus
Aalok (accountant) (50 Points)
30 August 2019
What is the liablity of sale of university old bus. can university liable any type of tax.
1 Replies
Uttam
(employee)
(814 Points)
Replied 01 September 2019
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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