m running a tea manufacturing factory and want to sale my old machinery to a another factory
is there Gst applicable in this transaction...
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Gst on sale of old machinery
Replies (14)
Yes... GST applicable.
what will be the taxable value
Current tax rate is applicable for the machinery...
Margin value is taxable...
here margin value means
can u give the example for same
can u give the example for same
Margin value means sales value less purchase value of old goods.
If u want to sell ur old machinery, u hv to reverse the itc claimed on purchase of machinery.. follow procedure as per section 18(6) read with rule 44.. margin scheme is for dealer dealing in second hand goods
yes margin scheme is for dealer dealing in buying and selling second hand goods but m not such dealer
You are not a dealer then sell the goods with tax for the sale value...
can u refer me section covering the above transaction where I can read
thanks alot
Yeah...
You are Most welcome...
Margin value does not apply in your case, you have to pay GST on transaction value
Hi,
Yes GST @ 18 % is applicable on sale of old machinery under the GST regime.
Please follow the link mentioned below for detailed understanding on Sale of Capital goods under GST:
https://www.caclubindia.com/articles/sale-of-capital-goods-in-gst-regime-31284.asp
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