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Scrap sale under GST of Fixed Assets

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(Querist)
28 January 2021 An old genset was sold and it has salvage value only....the genset was sold to local feriwala...what to do ? whether invoice to be prepared and gst to be paid?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
28 January 2021 No need for invoice if it's sold for less than book value.
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CA Parul Saxena

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CA Parul Saxena (Querist)
28 January 2021 it is sold higher than scrap value and that too in cash



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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
28 January 2021 Charge 18% GST as sale of scrap under tax invoice.
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CA Parul Saxena

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CA Parul Saxena (Querist)
28 January 2021 what to mention under buyer name as the product given to local feriwala
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
28 January 2021 Raise b2c invoice put some name not a problem.
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CA Parul Saxena

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CA Parul Saxena (Querist)
29 January 2021 can you please provide HSN code too
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
29 January 2021 7204 MS Scrap of all types 18%




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