Home Forum Goods and Services Tax - GST Month 7 2023 2023 (7) This
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GST on sale of factory - Goods and Services Tax - GSTExtract XYZ is owner of one factory located at MIDC. XYZ is selling that factory along with all the assets in the factory for a lump sum amount. The factory is situated on land taken on lease from the MIDC. Now, there will be two types of sale for GST purpose: - 1) Sale of factory building along with its assets. (Assets include Plant Machinery, F F, electrical installation etc) 2) Sale of leasehold rights of the land on which the factory building is standing. Need clarity regarding GST implications on sale transactions mentioned in both the above points along with valuation methodology to be followed.
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