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Urgent query on sale of fixed assets

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(Querist)
11 April 2023 profit is coming if calculation is made as per WDV cost method. GST is to be paid. My question is if i pay through GSTR3B and do not mention in GSTR1 then is there any complication to this?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
11 April 2023 Yes, give value of profit as taxable value in GSTR 1.
Show WDV value as exempt sale.
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CA Parul Saxena

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CA Parul Saxena (Querist)
11 April 2023 what is the rate of gst that is to be charged on Margin 12% or 18%?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
11 April 2023 It's 18% GST chargeable.
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Arun Kumar Singh

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Arun Kumar Singh (Expert)
13 April 2023 GST will be applicable 18% on assessable value of the goods.

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