Gst on machinery
This query is : Resolved
22 November 2017
Mr. A is in the business of manufacturing of Nails & Wires. He has now shut down the business and wants to sell off his machinery. Whether GST will be applicable on sale of machinery. And if yes, whether Input Tax credit can be claimed by the purchaser.
Please guide.
Regards,
Devendra
Please guide.
Regards,
Devendra
23 November 2017
Selling off machinery while shutting down business is in-process of winding off of business. In case you have not surrendered your GST number, please charge GST and the buyer would be eligible for credit if otherwise all the conditions for claiming credit are satisfied.
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