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GST on transfer of fixed asset from one branch to another

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sushma nanda kumbhar

audit assistant

48 Points Posted on 17 March 2022

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)

Quick Summary

This discussion addresses whether transferring fixed assets between different branches of a business is liable for GST, treating it similarly to stock transfers. It also explores the crucial aspect of Input Tax Credit (ITC) reversal for assets previously claimed in the originating state. The consensus is that such transfers are indeed subject to GST.

Rajendra Prasad

Employee Private

1142 Points Posted on 17 March 2022

Yes, it is liable for payment of GST.

Imthias ahamed Kormath

635 Points Posted on 17 March 2022

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.