GST related query

There is some used fixed asets furniture & fittings in the books it is sold for Rs. 150000, then any gst is applicable? Hsn code of that product at the time of purchase 940310, then sale of this furniture if gst is applicable what is hsn code of that sale same hsn as 940310 it is sold as scrap?
On which value we need to pay gst?
Replies (5)
Quick Summary
This discussion clarifies whether GST is applicable when selling used fixed assets like furniture and fittings for Rs. 150,000. It confirms that GST is indeed applicable on the sale value, using the same HSN code (940310) as when purchased. Importantly, if the asset was acquired before the GST regime, no GST is applicable on its sale, regardless of whether input tax credit was claimed.

Yes Gst is applicable on sale with same hsn code
Gst is applicable on sale value
If the asset purchased before gst period, then gat is applicable?
Then not applicable
That means asset purchased before gst regime then gst is not applicable (input claimed or not whatever may be gst is not applicable ) am i right?
Gst applicable

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register