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GST on old assets sold
A company providing services selling it's old assets. Does it attract gst???
Replies (4)
YOU MEAN SCRAP https://cleartax.in/s/gst-hsn-lookup
yes gst will attract.
YES IT WILL ATTRACT GST LEVY
Any fixed asset purchase in Vat regime (Except Vehicle) GST is to charge at transaction value (sale value)
If capital goods purchase in GST period & No ITC being availed the as per schedule1 it will not consider as supply & no GST is applicable
If capital goods purchase in GST period & No ITC being availed the as per schedule1 it will not consider as supply & no GST is applicable
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