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Sales of used fixed assets


Rajesh Dalmiya (Proprietor)     31 October 2020

Rajesh Dalmiya
Proprietor 
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Hello,I have setup Polyhouse which is under agriculture in 2017-18 in the individual name.I am not registered under the GST as it is for farming.Now I want to sale my Polyhouse.The sale amount is much lower than the cost price.At the time of purchase I have not availed any credit also.Now I want to sale the assets either in the same state or to another state.Just wanted to know if I will be liable for any GST or any registration for sale.

Heet Shah

Heet Shah (Tax Consultant)     31 October 2020

Heet Shah
Tax Consultant 
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Originally posted by : Rajesh Dalmiya
Hello,I have setup Polyhouse which is under agriculture in 2017-18 in the individual name.I am not registered under the GST as it is for farming.Now I want to sale my Polyhouse.The sale amount is much lower than the cost price.At the time of purchase I have not availed any credit also.Now I want to sale the assets either in the same state or to another state.Just wanted to know if I will be liable for any GST or any registration for sale.

If the value sale amount exceeds threshold then u are liable for gst regn.

Heet Shah

Heet Shah (Tax Consultant)     31 October 2020

Heet Shah
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Since it is going to be one time sale you may apply for Casual taxable person .

Rajesh Dalmiya

Rajesh Dalmiya (Proprietor)     31 October 2020

Rajesh Dalmiya
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Didn't got you.It will be nice if you can explain it in details

Heet Shah

Heet Shah (Tax Consultant)     01 November 2020

Heet Shah
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Just take a registration as casual taxable person to ignore other gst compliances. 

Pankaj Rawat

Pankaj Rawat (GST Practitioner)     01 November 2020

Pankaj Rawat
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As per Section 7 of CGST it's an supply as consideration is involved. means you are getting consideration for sale of Assets.
But , In term of Section 22 , the threshold limit to obtain Registration in case of supply of Goods is 40 lac . So if the transaction value for sale of asset is exceeding 40 lac you are required to obtain GST Registration & need collect & deposit GST on same.
Rajesh Dalmiya

Rajesh Dalmiya (Proprietor)     01 November 2020

Rajesh Dalmiya
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Hello, The same will be applied if we sell the goods from one state to another state also

Rajesh Dalmiya

Rajesh Dalmiya (Proprietor)     01 November 2020

Rajesh Dalmiya
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The same will be applied if we sell the goods from one state to another state

Pankaj Rawat

Pankaj Rawat (GST Practitioner)     01 November 2020

Pankaj Rawat
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yes agree with mr. rajesh  ,in term of section 24 cgst act urd cannot supply interstate

Heet Shah

Heet Shah (Tax Consultant)     01 November 2020

Heet Shah
Tax Consultant 
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Originally posted by : Rajesh Dalmiya
Hello, The same will be applied if we sell the goods from one state to another state also

Yes same would apply in case of interstate transaction too .However Cgst nd sgst or igst would depend on Ur asset


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