Gst on capital assets of gst exempted business

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Dear all,

i am having business whoes turnover is totally exempt. Now i want to buy a new capital asset and want to  sell old capital asset.

my question is can i set off the input of new capital asset against output liabilty on selling of old asset. Whether i will get input all in once or in installment.

pls note-- my turnover is totally exempt.

Replies (2)
yes u can set off
Yes you can , as per schedule I disposing or selling of business asset is supply & the as selling of capital goods is taxable supply for you so can adjusted gst for the same against on purchase of new calital goods

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