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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

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5 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 04 November 2023

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

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sabyasachi mukherjee (27574 Points)
Replied 04 November 2023

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

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 04 November 2023

It's sale

sabyasachi mukherjee (27574 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.

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