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ITC eligibility on Capital Goods if sale
If machines purchase in Aug 2017 and no used, even ITC availed full....after 2 years would like to sale on depression amount.. whether any reversal will apply to reverse the ITC as 60 months periods?
Replies (5)
On sale of old machinery for a consideration GST always apply irrespective of ITC availed or not, no ITC reversal required rather for forwarde charge will apply on margin on sale of machinery over and above wdv as on date.
GST applicable for the sale of Capital Goods...
Also GST will be chargeable on the sale value, not only on margin...
Also GST will be chargeable on the sale value, not only on margin...
What about margin money if added at the time of sale?
Marginal scheme not applicable for the said query. You can sale any of the value. Charge GST on the Sale value...
My mistake, Mr. Raja is correct gst is applicable on full sale consideration of old machinery.
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