Hi,
we sold one machine in 14.02.2019 to our customer & due machine defect we Replace machine in Jan-2021. without consideration.
ples explain the process for Replacement of old Machine.
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Replacenlment of Machine sold in FY 2018-19
Replies (6)
Quick Summary
Treat as supply or reverse the credit availed !
If i cansiderd as supply,
our customer not giving any amount how close in our books, whether we acconted as a Baddebts at the time of closing of our books
our customer not giving any amount how close in our books, whether we acconted as a Baddebts at the time of closing of our books
Then , you reverse the input availed ..
If you availed ITC in respect of that Machinery being CG then you are required to pay GST as it is supply as per Schedule 1 of act. Secondly the value shall be as per Rule 30 or Rule 31 if their is no consideration. But if you consider a consideration of any nominal amount then you can pay GST of the amount you claimed at the time of purchase of ITC reduce by 5 percentage per quarter of that Itc till date of disposal
Sir we are supply machine & now our customer send old machine due defect, same will replace now for without consideration.(transaction happens after warranty)
how to send machine to our customer
how to send machine to our customer
In that case delivery challan is sufficient.....No gst liability as It is in warranty period
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