sale of FA

Hi,

No . because its not your business and its not forming part of your turnover.

 

Regards,

Swathi. 

yes you have to charge


You have calculate the ITC for remaining useful life of capital asset & GST on Transaction value (Sale value) whichever is greater is to be deposit.

suppose asset purchase for RS.50000 & paid GST 9000 
>The useful life of asset is 60 months 
> used asset for 4 years (48 months)

To calculate ITC attributable to remains usfule life is = ITC X months remain ÷60
= 9000 x12/60= 1800/-

And if suppose sale value is 9000 & GST is 1620/- 

Then the GST payable will be 1800/- on sale capital asset

Agree with Pritesh Sir.