Dear experts,
I have purchased machinery in 2010 and amount is above 1 cr also I have taken ecxise duty credit now I want to sale the machinery RS. 90 lac. how I can calculate gst liability for sale the machinery
Thanks & Regards.
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gst liability on sale of capital goods
Replies (6)
u have to charge gst on transaction value (90lac) ( rate applicable on machinery)
sir I think some provision regarding reducing gst liability as per input credit taken in before gst
1) Any unutilized CENVAT credit as on 30/06/2017 can be carry forward in Electronic credit Ledger
2) As the machine purchased in 2010, credit if taken would have been utilized / lapses
3) Hence As Mr. Pankaj said Charge GST on transaction value
2) As the machine purchased in 2010, credit if taken would have been utilized / lapses
3) Hence As Mr. Pankaj said Charge GST on transaction value
No yogesh ji there is no provision , yes uday ji is correct , if any unitized CENVAT credit would have been c/f but , i dont think as the machinery was purchase in 2010
ok thanks sir sec 15 of gst act is applicable in this case. Thanks for given valuable feedback.
u r always welcome dear yogesh
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