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TAXABILITY OF SALE OF SECOND HAND PLANT MACHINERY, Goods and Services Tax - GST

Issue Id: - 115529
Dated: 14-10-2019
By:- NAMAN DOKANIA

TAXABILITY OF SALE OF SECOND HAND PLANT MACHINERY


  • Contents

M/s Xyz a partnership firm unregistered in GST is selling his old plant and machinery to M/s AbC unregistered located in another state for a value of ₹ 18lakhs. m/s XYZ, seller has purchased the machinery in preGST era.

Will M/s XYZ need to charge gst on dat? if yes den wat will be the transaction value

Posts / Replies

Showing Replies 1 to 4 of 4 Records

Page: 1


1 Dated: 14-10-2019
By:- Ganeshan Kalyani

Yes, GST is payable by M/a XYZ


2 Dated: 14-10-2019
By:- atul rathod

Yes, Compulsory registration for inter state supply irrespective of turnover


3 Dated: 18-10-2019
By:- praveenkumar mekalacheruvu

How to calculate the trasanction value?


4 Dated: 19-10-2019
By:- KASTURI SETHI

Transaction value can be arrived at by way of adopting depreciation methods as per accounting principles. There are 4 depreciation methods. Since the unit was unregistered, no credit was taken on the capital goods.


Page: 1

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