23 February 2018
Sir we are doing works contract a Pvt Ltd company, we have to sell a old road work machinery is GST applicable on sale of old machinery if applicable at what rate we have to pay gst kindly tell us
23 February 2018
Hi , Please note whether you are selling as a Machinery or as a scrap. If you are selling as Machinery the procedure is same you may just note the HSN number of the same and through that you may clear about your percentage of GST. However you need to take care of depreciation claimed earlier .
24 February 2018
Madam this below section will not apply in my case: According to rule 32 (5) of CGST Rules, 2017 "Where a taxable supply is provided by a person dealing in buying and selling of second hand goods i.e., used goods as such or after such minor processing which does not change the nature of the goods and where no input tax credit has been availed on the purchase of such goods, the value of supply shall be the difference between the selling price and the purchase price and where the value of such supply is negative, it shall be ignored.
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