GST Rate on Sale of Asset..
sandeep (Manager) (36 Points)
24 August 2021
While purchasing the new AC, the GST rate is 28% then while sale of old AC what should be the GST rate?
3 Replies
CA Amit Shingala
(PRACTICE)
(164 Points)
Replied 24 August 2021
5% because it is not a sale of new AC and also it is a regarded as scrap and waste
Rajendra Prasad
(Employee Private)
(1908 Points)
Replied 24 August 2021
As per my knowledge all types of scrap is not falling under the Rate of 5%. Iron, Copper, aluminum like metal scrap will fall under 18%.
And also in the present issue AC is selling as AC has to pay 28% it self. If as scrap it will be 18%.
And also in the present issue AC is selling as AC has to pay 28% it self. If as scrap it will be 18%.
CA Altamush Zafar
(GST Consultant)
(15986 Points)
Replied 24 August 2021
I agree with 99rajendra's answer.
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