Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Input on vehicle sale

04 November 2023

i purchased a vehicle and taken input in gst.but now after 1 year i want to sell the vehicle.is there any issue...?pls reply...thanks in advance

Reply
Follow
Share

5 Replies

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 04 November 2023

If You are availed the ITC then sale the vehicle with charging GST.

Upgrade to CAclubindia Pro. Subscribe Now!

sabyasachi mukherjee (27107 Points)
Replied 04 November 2023

If for the purpose of business then it's OK otherwise not

RAJA P M ("Do the Right Thing...!!!") (127921 Points)
Replied 04 November 2023

It's sale

sabyasachi mukherjee (27107 Points)
Replied 05 November 2023

A taxable person cannot take input tax credit on vehicle purchased ND sold instantly.

Rajamahendra Varma M.B.A.,LL.B (Advocate and GST Practitioner) (245 Points)
Replied 18 November 2023

If the vehicle purchased for business purpose and complied with required provisions and claimed ITC, then sale the vehicle with applicable tax rate and discharge liability accordingly as per applicable provisions.

Upgrade to CAclubindia Pro. Subscribe Now!

Recent Topics

More recent discussions | Post

Related Threads

Popular Discussion

Start a New Discussion

Trending Online Classes

3 Days Certification Course on Tax Audit Under Income Tax Act 1961

CA Pratibha Goyal

Enroll Now

05 August 2024
Live class on PF & ESI Enrollment & Returns Filing(with recording)

Mr.Balamurugan Ranganathan

Enroll Now

26 July 2024
Live Course on Practical GST Filing with Expert Legal Insights

Sachin Jain

Enroll Now

26 July 2023

view all classess

Let's Talk Money: You've Worked Hard for It, Now Make It Work for You

Click here for more bestsellers

Subscribe to the latest topics :

Search Forum:

Forum Home

Popular Threads