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TAXABILITY OF SALE OF SECOND HAND PLANT MACHINERY, Goods and Services Tax - GST |
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TAXABILITY OF SALE OF SECOND HAND PLANT MACHINERY |
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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
Yes, GST is payable by M/a XYZ
Yes, Compulsory registration for inter state supply irrespective of turnover
How to calculate the trasanction value?
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 Old Query - New Comments are closed. |
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