Hi
Can i know the gst impact for sale of fixed asset(travelator).
The asset is purchased pre Gst on 17-02-2010 and sold post gst.
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GST on fixed asset
Replies (9)
Quick Summary
Are You taken ITC in the asset...?
Ya we have taken cst
How is possible taken ITC of the CST...??
CST is not eligible to take as ITC.Am I right...?!
CST is not eligible to take as ITC.Am I right...?!
I mean the cst was paid at the time of purchase
Ohhh okay okay...
Now Your question :
If the sale value less than the WDV then GST not applicable...
Now Your question :
If the sale value less than the WDV then GST not applicable...
If it's more than gst will be applicable?
Yes... If it's more than the book (WDV) value then GST applicable on margin value...
Sir, margin value means
The Asset purchase in pre GST Regime & sold in GST Regime , the GST on Margin (Sale-purchase) is applicable only of it is Vehicle (Refer Notification 8/2018 CT(r))
So other then Vehicle the GST is applicable on Transaction Value.(refer schedule II(4))
So other then Vehicle the GST is applicable on Transaction Value.(refer schedule II(4))
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