respected sir ,
please mention gst calculation for selling of old machinery inter state. ??
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gst on selling of old machinary
Replies (5)
On the basic value of machine add cess and then on the total value (taxable value) calculate IGST.
Dear Manish,
For Interstate sale IGST shall be applicable. The tax should be calculated on the transaction value. Cess should not be included for the same.
If the machinery was purchased under GST and credit was availed, Sec 18(6) shall be applicable and the GST payable shall be highest of the below:
a. Taxable value * GST %
b. Total credit availed - Credit availed*5%*No.of quarters or part there of.
Note: For this purpose, quarters should be considered as Apr-Jun, Jul-Sep, Oct-Dec, Jan-Mar.
Regards,
CA Vamshi Krishna
thanks sir , but here machine is very old..
In that case, The tax should be calculated on the transaction value.
ok sir thanku
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