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GST on used car sold?
Business asset Motor Car held in the name of partner, claimed depression since 2014, sold in 2019-20. whether GST is applicable? if yes then what is the rate of GST.
Replies (3)
yes. depends on call model. chk notification. its on difference value
Yes GST is applicable on profit value (Sale-purchase) , No Gst is applicable if its sold on loss
Kindly refer Notification 8/2017 CT (r)
Kindly refer Notification 8/2017 CT (r)
thank you very much
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