GST REGISTRATION

If a person(service provider) whose Annual Turnover is less than 15 lakhs annually(hence not registered under GST), if he sells all his fixed assets amounting to Rs 30-40 lakhs, then will he be liable to take registration under GST? The assets were purchased in Pre-GST era.

Replies (6)
Quick Summary
This discussion clarifies whether a service provider with an annual turnover below £15 lakhs needs to register for GST when selling business fixed assets worth £30-40 lakhs. While initial thoughts suggested registration might be required, the consensus leans towards no, as selling assets for business closure may not be considered a 'supply' under the GST Act, especially if Input Tax Credit (ITC) was not claimed on those assets. The key is to determine if the assets were used for business purposes and if they were part of business tax returns.

Yes. he need to take registration
I need partnership registration

Thankyou so much Janak

Schedule -1 of CGST will only to the business assets on which ITC was claimed. In the given case building is selling in an individual capacity and not in the course or furtherance of business hence it is not a supply as per Section 7 of CGST act.

No need to take registration.

Originally posted by : Siva Shankar Reddy K
Schedule -1 of CGST will only to the business assets on which ITC was claimed. In the given case building is selling in an individual capacity and not in the course or furtherance of business hence it is not a supply as per Section 7 of CGST act.

No need to take registration.

He is not selling building, but he is selling his machinery of the business. Then will he be liable to take registration under GST ? He is selling the machinery for closure of his business so that cannot be termed as in the course or furtherance of business right?

Dear Siva Reddy , schedule I applies only when there is no consideration. (your answer to be amended here).

And to differentiate individual capacity or business asset, to check if the assets were considered part of business (used for business) and shown in tax returns (where depreciation would be claimed). 

Therefore, GST liable and registration is required. 

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