if a company exchange the old vehicle and sold the exchange vehicle to another with some profit
how to show in return
and how much tax pay
At first, the exchange made by you is also a supply hence it is liable to GST...
and then again sale of such exchanged asset is also liable to GST...
but consider whether you have claimed from ITC on such vehicles and whether company is selling those vehicles in furtharance of its business activity....
CAclubindia
