Sale of old Plant and Machinery
This query is : Open
Quick Summary
Gopalakrishnan V
(Querist)
28 January 2021
A Company, Machinery purchased during 2015, wdv Rs.250000, sold during 2021 for Rs.325000, what will be the GST liability?. Seller is registered in GST and buyer unregistered dealer.
CA R SEETHARAMAN
(Expert)
28 January 2021
Charge 18% GST on 3,25,000.
Gopalakrishnan V
(Querist)
28 January 2021
Whether GST is on margin Rs.75000 or on the sale amount kindly confirm
Gopalakrishnan V
(Querist)
28 January 2021
Whether GST is on margin Rs.75000 or on the sale amount kindly confirm
CA R SEETHARAMAN
(Expert)
29 January 2021
It's on margin value.
CA Rashmi Gandhi
(Expert)
29 January 2021
Charge 18% GST on Margin Value of Rs.75000/-
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