Applicability on of GST on inter-branch transfer of capital assets
This query is : Resolved
12 May 2023
Is GST applicable on inter-branch transfer of laptops from Mumbai Branch to Gujarat (GIFT CITY-IFSC) Branch?
The laptops have been capitalized in the books of accounts and the ITC on the same have been availed.
Please note that the laptops are being transferred to GIFT City of Gujarat where GST is exempt.
The laptops have been capitalized in the books of accounts and the ITC on the same have been availed.
Please note that the laptops are being transferred to GIFT City of Gujarat where GST is exempt.
13 May 2023
Yes GST will be applicable on Mumbai branch.....
13 May 2023
But Gujarat branch will not be able to claim the ITC of the same as there will be no output tax liability. So it will result in a loss of GST.
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