Gst on sale of fixed assets

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Querist : Anonymous

Querist : Anonymous (Querist)

06 November 2017 Dear Sir/s,

We are a company providing services in education field - to guide students for banking and finance sector. Now we are selling our fixed assets to other institute as we are closing our one centre and all the assets in the rental place will be sold to the new purchaser. Our question is that whether we should charge 18% GST on this resale or not?
Our service industries is commercial training and we are registered under GST in this head. Please guide us as early as possible.

CA Rohit Sinha

CA Rohit Sinha (Expert)
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06 November 2017 You should charge GST at the rate prescribed for each Goods sold, not at a flat rate of 18% in all cases.

CA Rohit Sinha

CA Rohit Sinha (Expert)
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06 November 2017 You should charge GST at the rate prescribed for each Goods sold, not at a flat rate of 18% in all cases.

Querist : Anonymous

Querist : Anonymous (Querist)

06 November 2017 It means if we are selling air-conditioners, furniture and fixtures, aluminium partitions, chairs etc. as per respective rates applicable in GST, right. Thanks for the reply.

CA Rohit Sinha

CA Rohit Sinha (Expert)
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06 November 2017 Exactly, the rate of GST depends upon the Goods sold.

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