Machinery goods

184 views 7 replies
I have a generator (which I purchased 2006 on 10 lakh rupees) now I want to sale this generator on 4.0 lakh , Can I sale generator without gst or including gst ( 4.72 lakh)
Replies (7)
If u r registered under GST, gst shall be collected on the occasion of sale whether goods or FA. suggest u to bill with tax also
If u are Regd dealer, old tax has already been claimed as ITC on the basic of ur turnover.while u sale it u issue an supply invoice,which may collect as gst and paid to govt.or if it purchase by a Regd dealer from a URP,the Regd dealer issue an invoice ,gst paid to govt during the last of that months.
GST is to collected on Difference value (sale value-wdv)if it is a gain otherwise It is shown as Exempted sales...
If your sale proceeds are over your WDV then you have to charge the gst on the difference of sale amount and WDV.

A tax bill to be issued + GST 

GST will be charged on the sale of the generator if you are a registered dealer. 

If the generator is sold at a price lesser than the WDV no GST will apply to this transaction. 

It is an earning income on this part of seller.who will b paid gst on the differencem value.Not calculated Depreciation of goods for this purpose, because which has already been calculated for past years,which will b shown in the Balance sheet of the taxp payer.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register