Dear sir/madam, i purchased new car amounting Rs. 15 Lakh and sold the same car on same day to another person. can i take input on purchase of car and pay output tax on sale of car purchase of car 15 lakh sale of car 15 lakh net output tax liability 0 or i dont take input tax credit on purchases and sale the same car to another person and dont pay gst on output tax liability because this is not covered under definition of supply because it is not furtherance of business (because i am not in same line of business of purchase and sale of cars) please suggest on the above issue
Nikhil Asked question April 13, 2021