SALE OF USED MACHINERY
Query (Issue) Started By: – SUNDARA MOORTHI Dated:- 25-1-2019 Last Reply Date:- 28-1-2019 Goods and Services Tax – GST
Got 4 Replies
GST
MACHINERY PURCHASED DURING VAT REGIME IN 2012. VAT INPUT TAX NOT AVAILED.
\nDEPRECIATION CLAIMED UNDER INCOME TAX AS PER IT RULES.
\nTHE USED MACHINERY IS BEING SOLD OUTSIDE THE STATE. (INTERSTATE)
\nTHE ISSUE IS WHAT IS THE RATE OF GST AND ON WHAT VALUE.?
\nNEED A DETAILED REPLY ASAP.
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nGST is applicable on the value of supply at applicable rate.
\nReply By KASTURI SETHI:
\nThe Reply:
\nYou are to pay GST at depreciated value. Depreciated value can be computed by many methods but two methods are very suitable and beneficial to the assessees<\/p>\n
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