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Lumpsale of Capital Goods, Goods and Services Tax - GST |
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Lumpsale of Capital Goods |
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Dear Sir, What is the GST Impact on Lumpsum sale of Capital goods ? Ratof GST and also if ITC was availed and where in ITC was not availed ? Regards, Bhupesh Posts / Replies Showing Replies 1 to 5 of 5 Records Page: 1
If ITC has been taken: The assessee shall pay the amount equal to ITC taken as reduced by 5% point as per Rule 40(2) of CGST Rules or on transaction value determined under Section 15 of capital goods, whichever is higher. Treating normal life as 5 years. If ITC not taken, GST will be paid at transactional value.
Do you mean 'Slump sale' ?
Yes sir it is slump sale
Sir, Would the rate of GST Charged be @18% Regards, Bhupesh
'Slump sale' has been discussed in detail in the decision of AAR, Maharashtra which is given below :- Page: 1 Old Query - New Comments are closed. |
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