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APPLICABILITY OF GST FOR FIXED ASSETS

This query is : Resolved 
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(Querist)
22 January 2022 A single transaction of sale of Fixed Asset of equipment by individual for more than 20 lakhs .Whether it attracts GST ?
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CA Puja Sharma

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CA Puja Sharma (Expert)
22 January 2022 Whether the fixed asset was used by the individual for personal use or business purpose?
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CA Altamush Zafar

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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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