hello experts
if any gst registered party sale fix asset and generate gst include Bill so it will be add as turnover sale or not in gstr 1 sale and in gstr 1 in which column it shows because fix asset is not turnover part so what is the treatment of it please guide us
thanks in advance
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Asset sale including gst
Replies (3)
Quick Summary
Sale of fixed asset is taxable under GST.
The same has to be shown in table 4 of GSTR-1 if the sale is B2B sale and table 7 if the sale is B2C.
Sale of fixed asset would be considered as a part of your aggregate turnover for the purpose of GST.
GST payable on fixed assets should be computed in terms of Section 18(6) of the CGST Act read with Rule 44 of the CGST Rules
Ok sir thank you very much
You're most welcome. Glad to provide solution.
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