Clarification regardg gst liability on sale of old machine
This query is : Resolved
24 May 2019
Hello sir,
If a taxable person sells its used capital assets (eg used machine) on which ITC was not claimed by that person at the time of purchase then will GST liability arise on sale of that machine??
If a taxable person sells its used capital assets (eg used machine) on which ITC was not claimed by that person at the time of purchase then will GST liability arise on sale of that machine??
24 May 2019
Yes GST will be payable.
25 May 2019
But sir please clarify more that if that registered person sells his used machine on the WDV then still is he liable for GST? And if yes then how?
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