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gst liability on sale of capital goods

21 March 2018

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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6 Replies

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 21 March 2018

u have to charge gst on transaction value (90lac) ( rate applicable on machinery)

yogesh mahajan (56 Points)
Replied 21 March 2018

sir I think some provision regarding reducing gst liability as per input credit taken in before gst

Uday (Article Assistant) (411 Points)
Replied 21 March 2018

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

1 Like

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 21 March 2018

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