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GST applicabity on sale of depreciable assets in business

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Student
844 Points Joined April 2020
Is GST is applicable on sale of depreciable assets in business?
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On 21 June 2020 at 21:24 Report
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947 Points Joined March 2018
In case of sale of captial asset, the reversal of itc claimed on such assets is attracted as per the provisions of section 18(6) read with rule 40(2) & 44(6).
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On 21 June 2020 at 21:43
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Student
844 Points Joined April 2020
Is gst applicable on profit on sale of asset
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On 21 June 2020 at 21:46
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"Do the Right Thing...!!!"
128147 Points Joined January 2015
Yes... GST applicable for sale of asset.
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On 21 June 2020 at 22:06
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947 Points Joined March 2018
Gst is applicable on higher of transaction value or itc pertaining to remaining life of the asset.
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On 21 June 2020 at 22:07

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