Q. 337 A car purchased in the name of firm on aug-2016 Rs. 1097277/- car to sale of Rs. 420000/-.pl advise about GST

Ans. GST will be charged on the difference between the consideration received on its sale and the Written Down Value (as per income tax).

Q. 336 A car purchased in the name of firm in VAT regime and sold in GST regime. ITC was not claimed earlier. What is the taxability of GST ? 

Ans. GST will be charged on the difference between the consideration received on its sale and the depreciation value (as per income tax) does not matter whether ITC has been availed or not.

Q. 335 We have exported goods on payment of IGST. We have received refund of IGST from customs (ICEGATE) for this invoice. Now against that same invoice we are issuing debit note to the foreign buyer. We will have to pay IGST on this debit note. The query is 1. How to claim refund of IGST paid on this debit note. 2. We have to apply for Refund under which category. 3. Refund application is to be filed with customs or GST dept ?

Ans. Procedure for applying refund of IGST paid on Debit Note will be the same as refund on any export Invoice with payment of tax.