Sale of Fixed Asset

Priyadharshini (Student) (33 Points)

03 January 2021

Whether sale of fixed asset is taxable under GST?

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8 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 03 January 2021

Yes gst is applicable

Balamurali Unnithan MS (STUDENT) (1631 Points)
Replied 03 January 2021

If your registered under GST & the input is taken , its treated as supply & GST Attracts!

Priyadharshini (Student) (33 Points)
Replied 03 January 2021

Thank you sir

sabyasachi mukherjee (27393 Points)
Replied 03 January 2021

Yes, provided the dealer is a registered taxable dealer.

Thiyagarajan Kandasamy (118 Points)
Replied 03 January 2021

If sale of fixed assets sale for loss no gst is applicable

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 03 January 2021

Yes in term of Section 7 of CGST it's an supply & GST is applicable.

sabyasachi mukherjee (27393 Points)
Replied 03 January 2021

Gst is applicable

Asha Kanta Sharma (Manager - Finance & Accounts) (36350 Points)
Replied 04 January 2021

Yes. GST is applicable on sales of assets whether on loss or profits.

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