GST on fixed asset

This discussion clarifies the Goods and Services Tax (GST) impact on selling a fixed asset, like a travelator, that was purchased before the GST regime but sold afterwards. It addresses whether input tax credit (ITC) was claimed on the original purchase and explains that GST is applicable on the sale value if it exceeds the written-down value (WDV). For assets other than vehicles, GST is charged on the transaction value, while specific rules apply to vehicles based on sale value versus purchase value.