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Sale of moulds

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SALEEM ANSARI

15 Points Posted on 19 May 2021

one of my client purchased fixed assets
(870 moulds) on 22/2/2019 for manufacturing of paver block. now he is selling all the moulds.
my question is should we pay the Gst as per proviso given in section 18(6) or normal provision as applicable to fixed assets

Replies (2)

Quick Summary

A client is selling 870 moulds previously purchased as fixed assets for paver block manufacturing. The discussion seeks clarification on whether GST should be applied according to the proviso in Section 18(6) or the standard provisions for fixed asset sales. The consensus is that GST is applicable on the sale of moulds, even if sold as scrap.