Hello
one of my client is going to purchase old machinery from supplier which is not reg under GST .and total amount is more than 22 lakh
let me know GST implications
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Old Fixed Assets Purchase
Replies (6)
| Originally posted by : sumit | ||
 |
Helloone of my client is going to purchase old machinery from supplier which is not reg under GST .and total amount is more than 22 lakhlet me know GST implications |  |
GST Liability ariseon seller not on Purchaser
SECOND HAND FA ATTRACTS GST?
purchase from 2 names one for 11 and 2nd for 11
make payment through bank only not cash.
make payment through bank only not cash.
If your client is purchasing old machinery from unregistered supplier, you can just account in your books as there is no ITC no need to show in your returns.
There might arise a problem when such huge amount of capital goods bought at time of transportation as there is no invoice.
There might arise a problem when such huge amount of capital goods bought at time of transportation as there is no invoice.
Yes , you can purchase machinery from URD , as RCM is not applicable till 30/06/18 , So such inward supplies will be treated as exempted (No ITC)
You have show such inward supplies in 3b Under table 5
URD can raise a bill (Not Tax Invocie) But problem is if he raise you a bill for 22lac , he will be liable for registration in GSTN.
You have show such inward supplies in 3b Under table 5
URD can raise a bill (Not Tax Invocie) But problem is if he raise you a bill for 22lac , he will be liable for registration in GSTN.
Pankaj good answer 👌
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