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GST on sale of second hand car, my understanding!

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One news that caught everyone's attention in the past week, was also the one which left its audience with more questions than it answered. .The news has been mis interpreted, commented on, a subject of criticism for the week The news published by Dainik Bhaskar is quite comprehensive and does a good job of explaining the tax. According to this, "If a car is sold on profit after depreciation, then the seller is liable to pay GST on that profit." So first of all this is applicable only for cars that are registered in a firm's name with GST registration . Next, GST is applicable on profit after depreciation of car's value . For example, if I purchased a car in 2024 for 6 lacs in my GST registered firm's name. After 5 years of using it and booking depreciation in my firm's ledger at 10% per annum. The book value of car after 5 years will be, 2,95,245/- INR. So if I sell my car at 3 lac rupees. The 18% GST is applicable on the profit margin that is - INR 4755/-...
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Chandu Champion!

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Apologies in advance for spoilers! "Seeti Maar" One of the best movies. When a project is given proper time and efforts in every aspect of it, it definitely shows in the end product. The story of Murlikant Petkar Sir is inspirational and was worth watching on big screen. Infact his legend is so big that even the movie could not capture it due to time limitation. I highly recommend you to read his complete achievements on his website (Link at the end). The research team did a great job in unraveling his legend. Kartik Aryan did a great job not only by marking his presence on screen but by making a contact with the audience, forcing them to feel his pain, patriotism, passion. All the other actors did the same. Even the poster is captivating. Camera work mind blowing in many scenes like border fight. For comparison, another movie was released within a month. Sarfira. Both features the story of a guy who was losing all his life because of destiny, because of reasons beyond his co...
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Problem captured.

 For a while we have been facing a problem to acquire funding through government grant. There is a great initiative by the Government of India to support our startup ecosystem by means of funding. One such initiative is SISFS (Startup India Seed Fund Scheme). We were rejected multiple times by the incubators. Upon close inspection of the cause of rejection (this is very important in any venture) I found out that  "there is a need to draw a clear line between incubator and accelerator. Accelerators are programmes run by investment agencies to provide investment to already established and settled startups for their expansion or development. Incubators on the other hand are agencies that support startups during their very initial phase." Really hoping to secure funding for our incubation this season.
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