GST Rate & HSN Code

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This discussion clarifies the GST implications when selling an 8-year-old air conditioner, previously used as a business asset, to a scrap dealer. While MS scrap typically falls under HSN 7204 with 18% GST, GST may not apply if the asset is sold for less than its Written Down Value (WDV) on the date of sale.

Ashok Kumar

Ashok Kumar (Querist)

04 June 2022 About 8 years old Air conditioners used as business assets in a corporate office sold to scrap dealer. What is the GST Rate & HSN Code?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

05 June 2022 HSN 7204 MS Scrap of all types 18% GST applicable.

Ashok Kumar

Ashok Kumar (Querist)

08 June 2022 Hello sir, About 8 years old Air conditioners used as business assets in a corporate office sold to dealer (2nd sale). What is the GST Rate & HSN Code?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

08 June 2022 GST not applicable on such asset sold less than book value.

CA Puja Sharma

CA Puja Sharma (Expert)

08 June 2022 GST will not apply if the asset is sold for less than the WDV of the asset in the books on the date of sale.

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