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GST on old assets sold

Pavithra Rama (47 Points)

14 December 2018

A company providing services selling it's old assets. Does it attract gst???

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4 Replies

CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 14 December 2018

YOU MEAN SCRAP https://cleartax.in/s/gst-hsn-lookup

pritesh (CA Final student) (7101 Points)
Replied 14 December 2018

yes gst will attract.

Kunal Mittal (FINANCE OFFICER) (580 Points)
Replied 14 December 2018

YES IT WILL ATTRACT GST LEVY

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 14 December 2018

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

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