Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

gst on sale of old machine

4808 views 5 replies

V Shiroya

11 Points Joined July 2018

is gst applicable on sale of old machinery or not.?...(note : 1st. seller is registered in gst and doing business of embroidery jobwork. he is not doing machine trading business. and 2nd. he had purchased old machinery before 1/7/17 and not claimed any itc at the time of purchase. with this 2 points i confuse that gst applicable on old machine or not? plz export give ur valuable advise...thanks

Replies (5)

Fahad Aslam

103 Points Joined June 2017

sir. gst is applicable on sale on old machine irrespective of the fact that it was purchased pre gst period.. rate would be 18%

V Shiroya

11 Points Joined July 2018

thanks sir for reply....

Gyan Chand

144 Points Joined August 2018

18% (9%cgst +9% sgst)

S ELAVARASI

ACCOUNTANT

2975 Points Joined August 2017

GST is applicable when the machine will be sale with profit as per your books...

If the sale is fall under Loss then no need to charge GST. GST not applicable in this sale of loss.

V Shiroya

11 Points Joined July 2018

again confuse sir with 2 different view...of fahad Aslam sir and S Elavarasi sir.. in my case machine sale price is lower then purchase price...now ii have to collect gst or not in old machine sale transaction?