Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Sale of Land along with Plant & Machinery

363 views

Save Share

Mohit Agrawal

AUDIT MANAGER

109 Points Posted on 27 August 2022

A land was sold along with Plant & Machinery against Sales Consideration of Rs. 8,92,50,000/- during post GST regime.

As per sale deed, valuation amount is as below-

Land - 12,29,40,000
Boundary Wall - 10,05,000
Duck & Machinery - 9,98 250

I want to know GST applicability on the said transaction.

Whether GST will be levied or not ?

Give your answer with reasons.

Replies (3)

Quick Summary

This discussion explores the Goods and Services Tax (GST) implications for a transaction involving the sale of land along with plant and machinery. The core question is whether GST applies to the total sale consideration or specific components, particularly the plant and machinery, given the breakdown in the sale deed.