APPLICABILITY OF GST FOR FIXED ASSETS

This query is : Resolved

avrandco (Querist)
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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)
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22 January 2022 Whether the fixed asset was used by the individual for personal use or business purpose?

CA Altamush Zafar (Expert)
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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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