Regarding Rate of GST applicability on resale of machinary
This query is : Resolved
06 January 2020
Hey there,
One of our client is in manufacturing of packaging boxes and card board cut outs , they have purchased one such machine before 5 years means at the time of VAT and now they want to resale such machine .
Further They bill their invoice as per 12% rate and newly machine from manufacturer of such is 18% then what should be the rate at which invoicing must be done....??
Also as there is more than 5 years of purchase of machine so there is no such case of reversal.....
Hoping that answer with reasoning will be learn by me...
One of our client is in manufacturing of packaging boxes and card board cut outs , they have purchased one such machine before 5 years means at the time of VAT and now they want to resale such machine .
Further They bill their invoice as per 12% rate and newly machine from manufacturer of such is 18% then what should be the rate at which invoicing must be done....??
Also as there is more than 5 years of purchase of machine so there is no such case of reversal.....
Hoping that answer with reasoning will be learn by me...
06 January 2020
GST is payable as per applicable rate on sale of old machinery and Tax invoicing must be done @ 18% .
Reversal anyway will not be there as no ITC has been availed on the machinery subject to sale
Reversal anyway will not be there as no ITC has been availed on the machinery subject to sale
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