Profit on Old car gst applicable
ashish dharkar (accountant) (151 Points)
04 January 2025I m registered in gst and I have purchased car itc not claimed but depreciation claimed so GST applicable if on profit @ 12%?
Ashis
ashish dharkar (accountant) (151 Points)
04 January 2025
V SUBRAMANIAM
(Tax consultant )
(529 Points)
Replied 05 January 2025
Yes GST is applicable on profit portion if business assets sold.
12 % or 18%.as per latest GST council meeting.wait for the circular.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961