Sale of Old Machinery on which Input Credit not taken earlier
Query (Issue) Started By: – ROHIT GOEL Dated:- 22-3-2018 Last Reply Date:- 9-4-2018 Goods and Services Tax – GST
Got 10 Replies
GST
We are running a hospital, and we are selling an old MRI machine, no input credit was taken at the time of purchase as our services are not liable to any output tax.
\nMy query is whether GST needs to be charged on Transaction value on Sale of old Machinery although we have already paid tax at the time of purchase without input tax credit?
\nReply By Ganeshan Kalyani:
\nThe Reply:
\ngst is payable on transaction value.
\nReply By KASTURI SETHI:
\nThe Reply:
\nThe term, “supply” has been inclusively defined in the Act. The meaning and scope of su<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n orporates\/factories to their employees do not fall under the category of furtherence of business but under GST regime GST is still payable. Therefore, MRI Machine would also attract GST on transaction value, if any, at the time of its'sale\/disposing off. However, due to having Electro Magnetic field such selling should be according to norms as set by Environmental Laws and other applied laws. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Sale of Old Machinery on which Input Credit not taken earlier Query (Issue) Started By: – ROHIT GOEL Dated:- 22-3-2018 Last Reply Date:- 9-4-2018 Goods and Services Tax – GSTGot 10 RepliesGSTWe are running a hospital, and we are selling an old MRI machine, no input credit was taken at the time of purchase as … Continue reading “Sale of Old Machinery on which Input Credit not taken earlier”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-11058","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/11058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11058"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/11058\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nReply By KASTURI SETHI:
\nThe Reply:
\nDear Querist,
\n What is constitution of 'hospital' mentioned in your query ?
\nReply By KASTURI SETHI:
\nThe Reply:
\nWhether hospital is run by charitable trust or corporate body ? If by charitable trust, whether registered under Section 12 AA of Income Tax Act ? Dear querist, Information is required to fur<\/p>\n
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