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Gst applicability?
Indirect Taxation
If I made a sale of motor car or bike..and I am sole proprietor do I need to collect gst as it is not in the course of furtherance of business??
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Thread Starter
vasabattula abhinavBut in the definition of BUSINESS it includes any activity or transaction which is not in regular activitiy or one time occurance can be treated as business??
Here frequency of occurrence is not relevant. Issue is about personal asset/ business asset. Since it is a personal asset, will not be considered as supply.
Supply includes all forms of supply of goods and/or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business If it is a personal vehicle, Then it will not be considered as supply. If used in business then it will be a taxable supply
vishwam mandepudi
Supply includes all forms of supply of goods and/or services such as sale, transfer, barter, exchange, license, rental, lease or disposal made or agreed to be made for a consideration by a person in the course or furtherance of business If it is a personal vehicle, Then it will not be considered as supply. If used in business then it will be a taxable supply
But in the definition of BUSINESS it includes any activity or transaction which is not in regular activitiy or one time occurance can be treated as business??
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