APPLICABILITY OF GST FOR FIXED ASSETS
This query is : Resolved
Quick Summary
22 January 2022
A single transaction of sale of Fixed Asset of equipment by individual for more than 20 lakhs .Whether it attracts GST ?
CA Puja Sharma
(Expert)
22 January 2022
Whether the fixed asset was used by the individual for personal use or business purpose?
CA Altamush Zafar
(Expert)
23 January 2022
If that is the only transaction then no GST since limit for registration in GST for goods is 40 lakhs
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