Tax Management India. Com TMI - Tax Management India. Com
Case Laws Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Manuals Articles SMS News Highlights
        Home        
 
Discussions Forum
Home Forum Goods and Services Tax - GST
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

Sale of Old Machinery on which Input Credit not taken earlier, Goods and Services Tax - GST

Issue Id: - 113519
Dated: 22-3-2018
By:- ROHIT GOEL
Sale of Old Machinery on which Input Credit not taken earlier

  • Contents

We are running a hospital, and we are selling an old MRI machine, no input credit was taken at the time of purchase as our services are not liable to any output tax.

My query is whether GST needs to be charged on Transaction value on Sale of old Machinery although we have already paid tax at the time of purchase without input tax credit?

Post Reply

Posts / Replies

Showing Replies 1 to 10 of 10 Records

1 Dated: 22-3-2018
By:- Ganeshan Kalyani

gst is payable on transaction value.


2 Dated: 22-3-2018
By:- KASTURI SETHI

The term, “supply” has been inclusively defined in the Act. The meaning and scope of supply under GST can be understood in terms of following six parameters, which can be adopted to characterize a transaction as supply:

1. Supply of goods or services. Supply of anything other than goods or services does not attract GST

2. Supply should be made for a consideration.

3. Supply should be made in the course or furtherance of business.

4. Supply should be made by a taxable person.

5. Supply should be a taxable supply

6. Supply should be made within the taxable territory.

Do you think your activity qualify to parameter no. 3 ? If supply is not in the course or furtherance of business, it is not taxable.


3 Dated: 23-3-2018
By:- YAGAY AND SUN

We endorse the view of Mr. G Kalyani as even in the cases of old cars when sold by corporates/factories to their employees do not fall under the category of furtherence of business but under GST regime GST is still payable. Therefore, MRI Machine would also attract GST on transaction value, if any, at the time of its'sale/disposing off. However, due to having Electro Magnetic field such selling should be according to norms as set by Environmental Laws and other applied laws.


4 Dated: 23-3-2018
By:- KASTURI SETHI

Dear Querist,

What is constitution of 'hospital' mentioned in your query ?


5 Dated: 24-3-2018
By:- KASTURI SETHI

Whether hospital is run by charitable trust or corporate body ? If by charitable trust, whether registered under Section 12 AA of Income Tax Act ? Dear querist, Information is required to further explore the issue.


6 Dated: 27-3-2018
By:- ROHIT GOEL

It's a charitable trust


7 Dated: 27-3-2018
By:- ROHIT GOEL

@Kasturi Sethi

Hospital is run by a Charitable Trust registered u/s 12AA of IT Act. Output Service is not taxable and no credit is availed/available.


8 Dated: 27-3-2018
By:- KASTURI SETHI

Then exemption is available under Notification no.12/17-CT Rate.


9 Dated: 7-4-2018
By:- Ganeshan Kalyani

Outward service is exempted but outward supply of asset is taxable at applicable rate. Tax has to be paid on transaction value or open market value.


10 Dated: 9-4-2018
By:- YAGAY AND SUN

We endorse the view of Mr. G Kalyani.


1

Post Reply

← Previous Next →
Discussion Forum
what is new what is new
 
 


|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version