Scrap sale under GST of Fixed Assets
This query is : Resolved
Quick Summary
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?
28 January 2021
No need for invoice if it's sold for less than book value.
28 January 2021
it is sold higher than scrap value and that too in cash
28 January 2021
Charge 18% GST as sale of scrap under tax invoice.
28 January 2021
what to mention under buyer name as the product given to local feriwala
28 January 2021
Raise b2c invoice put some name not a problem.
29 January 2021
can you please provide HSN code too
29 January 2021
7204 MS Scrap of all types 18%
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