Tax Treatment under GST
This query is : Resolved
04 October 2020
what will tax treatment under GST
if fixed assets sold on profit and Loss.
if fixed assets sold on profit and Loss.
CA Kushwanth AVSR
(Expert)
04 October 2020
If asset is sold for consideration then GST is applicable.
If asset is disposed off(not for consideratoin) and at the time of purchase, if ITC availed then GST is applicable.
If asset is disposed off(not for consideratoin) and at the time of purchase, if ITC availed then GST is applicable.
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