Menu
gst on sale of old machine
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)
sir. gst is applicable on sale on old machine irrespective of the fact that it was purchased pre gst period.. rate would be 18%
thanks sir for reply....
18% (9%cgst +9% sgst)
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.
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?
Recent Topics :
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
- Regarding 3CEB query
- Omitted E-Commerce Sales Reported in Table 14 but
- Omitted sales shown in GSTR-1 Table 14 but not in
- EWAY BILL TAKE OUT OF OTHER COMPAMY
- Penalty & late fee for late ITR filing
- Business discontinued as Government took possessio
Related Topics :
CAclubindia
