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GST on car sold by Company after using it for business purpose
Case Law Details
- Case Name
- In re Dishman Carbogen Amcis Limited (GST AAR Gujarat)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- AAR Gujarat, Advance Rulings
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In re Dishman Carbogen Amcis Limited (GST AAR Gujarat)
Q1. On what value, the new car purchase by the company is sold after using it for business purpose, shall the GST be charged?
A1. The Value for intended supply shall be the difference between the consideration received for supply of said car and the depreciated value of the said car on the date of supply. Depreciation is as per Section 32 Income Tax Act.
Q2. At what rate of GST, the new car purchase by the company is sold after using it for business purpose, shall the GST be charged?
A2. GST rate leviable is 18% (9% CGST & 9% SGST).
Q3...
Please clarify the GST rate on old/used car when supplier of such goods has availed input tax credit and I am planning to buyback that leased car (Ertiga 2019 model)