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Taxability, Goods and Services Tax - GST

Issue Id: - 116768
Dated: 4-10-2020

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Sir Mr.A registered under GST and doing jeweler business , has purchased computer accessories and booked as expenses and he claimed ITC, now he wish to exchange the product for a new one and sold the same to Mr.B. Should he raise a invoice for the sale made by him to Mr.B who is also a registered person. will the treatment change if it is an asset. - GSTimplication!

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1 Dated: 7-10-2020
By:- Ganeshan Kalyani

Sir, the GST on sale value to be paid if asset was booked as expense. If it was capitalsed in books then GST on sale value and ITC of remaining life of the computer to be worked out and whichever tax is higher that is payable.


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