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Gst on plant and machinery auctioned by bank

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Akshay Gupta

1 Points Posted on 24 November 2022

Facts

Bank has issued a auction notice wherein a Factory land and building along with plant and machinery installed therein is put to auction.

as per auction notice value of p&m and l&b are seperately mentioned

now as a bidder if someone wants to buy the property along with P&m what would be the applicability of GSt.

whether those p&m would be treated as part of immovable property as it is mostly fastened to land.

as per gst act whether gst would be payable on value of such P&M or not.

Replies (2)

Quick Summary

This discussion explores the Goods and Services Tax (GST) applicability on plant and machinery auctioned by banks, often alongside factory land and buildings. It clarifies whether such machinery, even if fastened to the land, is considered part of the immovable property and if GST is payable on its value. The consensus is that GST is generally applicable on the sale of such plant and machinery.