Sale of Pre GST assets

GST is generally applicable on the sale of business assets if you previously claimed input tax credit on them. If GST is required, it is typically charged on the transaction value. You can sell these assets to a business partner by raising a formal tax invoice, but if you are "related parties," you must ensure the valuation complies with GST Valuation Rules. Consult a tax professional to review your specific transition of credit to ensure compliance.