Goods and Services Tax – Started By: – girish nagareaj – Dated:- 26-10-2017 Last Replied Date:- 3-4-2018 – Hi Experts,I am planning to Purchase second hand Envelope Making machine. Does this attract GST? if yes, can you please let me know whats the percentage?Awaiting for your reply.Regards,Girish – Reply By Rajagopalan Ranganathan – The Reply = Sir, According to rule 32 (5) of CGST Rules, 2017 Where a taxable supply is provided by a person dealing in buying and selling of second hand goods i.e., used goods as such or after such minor processing which does not change the nature of the goods and where no input tax credit has been availed on the purchase of such goods, the value of supply shall be the difference between the selling price and
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ll be 18%(CGST@9%+SGST@9%) am I correct? If not, can you please correct me? I am planning to use this machine for myself. I am not a dealer. Awaiting for your reply. Regards, Girish – Reply By KASTURI SETHI – The Reply = Yes. You are right. – Reply By Ganeshan Kalyani – The Reply = With the introduction of the GST the rate on tax on product is same across India. So a buyer can purchase within the State to save transportation cost. Thanks. – Reply By Ramaswamy S – The Reply = the tax is on the supply of goods and not whether it is new or old. To determine, the value of the goods for the purpose of levy – it is important whether it is new or old. The envelope making machine falls under HSN 8472. It attracts 18% GST as per the 23rd GST council
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =