Dear sir/madam
This is N A Patel from Gujarat. I want to sell my car on name of my own name as Partner but Depreciation is calculated and maintained in Books of Accounts of business firm. My car purchased on September 2008 before GST law. Car shall be selling to an individual person within gujarat.
My question is that what is procedure of selling in terms of GST law. Whether I need to make taxable invoice mentioning Gst amount? Car book value is 70500/- But selling price might be higher than book value. Plz guide me.
N A PATEL
N A patel Asked question September 12, 2021
Margin Scheme will be applicable and GST will apply only on margin.
Team Taxwallah
Frah Saeed Changed status to publish January 23, 2022