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Vivek Sunil Mule (Chartered Accountant)     31 August 2021

GST Query regarding HSN

Sir / Madam,

One company is purchasing Assets of other running company consisting, Technical knowhow, Machinery and Inventory.

What will be HSN code and rates will be applicable?

Please note there is no takeover / merger / transfer of business is involved.



 3 Replies

Pankaj Rawat

Pankaj Rawat (GST Practitioner)     31 August 2021

The GST rate & HSN will be the same that of new Assets.

Only in case of Vehicles (Reference Notification 8/2018 CT (r) :
Vehicle of Vat Regime Sold in GST Regime :
GST is applicable on Profit Margin (Sale-Puchase )

Vehicle Purchased & Sold in GST Regime :
If ITC claim , then GST is on transaction Value
If ITC is not claim , then GST is on Profit Margin (Sale - Purchase)

GST Rate 12 % & 18% is applicable as per CC engine of vehicle mentioned in Notification.
More then 1500 CC , leanth exceeding 4000 MM, GST is 18%

Else ,.. 12%
1 Like
Vivek Sunil Mule

Vivek Sunil Mule (Chartered Accountant)     01 September 2021

Ok Noted,

What will be HSN code for technical knowhow?

kavitha ganapathy

kavitha ganapathy   02 September 2021

What will be the hsn code for surfboard

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