You need to check if the vehicle is meant for transportation of goods as per its RTO registration. If the vehicle is meant for transportation of persons and purchased in pre-GST era. Assuming that ITC is not claimed, than this notification shall apply for calculation of GST.
@@Ashish.Singh003 There are certian exceptions, but your situation is not covered under those exceptions. So it is ineligible as per section 17(5) of the CGST Act.
Hello Sir, If we claimed depreciation of car, as car is shown in our balance sheet, , Then we need to pay GST at time of sale of that car?.. As VAT (2016) is not claimed at time of purchase of car.. Sir It is exchange case.. Where sale to dealer.. And excahange happens New car Price -2307804 Old car WDV -319858 Old car excahnge at price Rs 645664 So capital gain will be = 325806(645664-319858)..My question is that on 325806,GST will be applicable or not?
GST is payable if there is a SUPPLY. In this case, you will have to check the definition of 'Business' to verify if this transaction is a SUPPLY as per GST law.
Very good sir we are expecting more information from you
@@rameshmaharaj6095 thanks..
Nice explanation.. But how to calculate that depriciated value of the car?
Excellent explanation
Sir can u prepare a detailed video of bonus calculation of employees of a financial year
sir if the vehicle is purchase in pre gst era , then what is the gst rate applicable in car as well as vehicle used for transportation of goods?
You need to check if the vehicle is meant for transportation of goods as per its RTO registration. If the vehicle is meant for transportation of persons and purchased in pre-GST era. Assuming that ITC is not claimed, than this notification shall apply for calculation of GST.
Useful video well explained
Thank you
Good video
Thankyou
Sir mera construction ka business hai kya gst pe car ke input mil skta hai
If it is a car having sitting capacity less than 13 passengers, than ITC is not allowed.
@@caashwarya sir hme scorpio leni h staff ke lie or business construction ka hai to kaise milega input
@@Ashish.Singh003 There are certian exceptions, but your situation is not covered under those exceptions. So it is ineligible as per section 17(5) of the CGST Act.
Where did u get the rate of gst under different categories of cars,pls specify.
@@TheMethodMadness detail of notification is mentioned in description.
Sir vehicle army auction hai NOC dealer ke nam par hai.. kya Affidavit se Vehicle Direct mere nam par ho jayegi...???
How much Tax rate in old register petrol motor cycle/used motor cycle?
What is thee rate of Depreciation under income tax act for car
In my opinion, it is 15%
Nice and helpful
Thank you
Good explanation bro❤
Thank you
Hello Sir, If we claimed depreciation of car, as car is shown in our balance sheet, , Then we need to pay GST at time of sale of that car?.. As VAT (2016) is not claimed at time of purchase of car.. Sir It is exchange case.. Where sale to dealer.. And excahange happens
New car Price -2307804
Old car WDV -319858
Old car excahnge at price Rs 645664
So capital gain will be = 325806(645664-319858)..My question is that on 325806,GST will be applicable or not?
GST is applicable on sale of old car, even if it is given in enchange of new car. You can issue a sale invoice to the car dealer.
Sir thank for the information
Thank you
Sir bank auction mai kis amount pai gst lgega
Manner of calculation and valuation for this situation is explained in Proviso to Rule 32(5) of the CGST Rules.
If the car purchase his own name for personal use,not under the business purpose.then still did we want to pay gst for the profit?
GST is payable if there is a SUPPLY. In this case, you will have to check the definition of 'Business' to verify if this transaction is a SUPPLY as per GST law.
Very good
Thank you
I have mini rice plant. I want to sale machinery after using more than 8 years. Can gst applicable on it?
@@Abhisharma01584 GST is applicable on sale of business asset