Hi. Live scenario: XYZ Ltd. Company in Maharashtra state bought a car on company name at 20Lacs in 2015. The company could not repay the loans borrowed and hence thier lands, houses and vehicles were ceased and sold under auction further to notice from NCLT under SERFAISI Act.
The auction reserve price of vehicle was 6Lacs. I then bidded for the vehicle and awarded as highest bidder for 7.3Lacs. I am an unregistered individual in Maharashtra state.
Am I eligible to pay 18% GST on this transaction?
Case 2: In case I prefer to register this vehicle on my company name (which will be registered under GST). will there be any additional benefit?
To answer or further discuss, call me on 7020234559 please.
Pankaj Asked question July 10, 2021