Urgent query on sale of fixed assets
This query is : Resolved
Quick Summary
CA Parul Saxena
(Querist)
11 April 2023
profit is coming if calculation is made as per WDV cost method. GST is to be paid. My question is if i pay through GSTR3B and do not mention in GSTR1 then is there any complication to this?
CA R SEETHARAMAN
(Expert)
11 April 2023
Yes, give value of profit as taxable value in GSTR 1.
Show WDV value as exempt sale.
Show WDV value as exempt sale.
CA Parul Saxena
(Querist)
11 April 2023
what is the rate of gst that is to be charged on Margin 12% or 18%?
CA R SEETHARAMAN
(Expert)
11 April 2023
It's 18% GST chargeable.
Arun Kumar Singh
(Expert)
13 April 2023
GST will be applicable 18% on assessable value of the goods.
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