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GST on transfer of fixed asset from one branch to another

ITC / Input 1046 views 2 replies

sushma nanda kumbhar

audit assistant

28 Points Joined April 2013

Dear All,

Can any one help me with the following query;

We have branches in all over county recently we have transfer our fixed asset from Maharashtra branch to Rajasthan branch, will it liable for gst and will it be trated as like stock transfer

Kindly also suggest about ITC availed on such asset in mh will it be reversed ??

Replies (2)

Rajendra Prasad

Employee Private

1913 Points Joined July 2017

Yes, it is liable for payment of GST.

If u imagine ur product is cement,u tranfer the goods to other state.Igst on which fully transferred to other state as ITC.The other state used igst for their furtherence supply of goods as CGST/Sgst.
1.while transfer ur asset u may b
consider any ITC pending for utilise.
2.Add ur asset value in the asset of
Rajasthan branch.
3.Delate from Maharashtra.