Sale of Fixed Assets in Loss
This query is : Resolved
07 February 2024
Hello,
We selling our companies Fixed Assets like Furniture, office Equipment, and IT server etc.
We want to sale this assets in loss compare to closing balance after charging appropriate depreciation. So do we need to charge GST on this ?
and in case of profit what does the same rule can be applied ?
Please Guide.
We selling our companies Fixed Assets like Furniture, office Equipment, and IT server etc.
We want to sale this assets in loss compare to closing balance after charging appropriate depreciation. So do we need to charge GST on this ?
and in case of profit what does the same rule can be applied ?
Please Guide.
08 February 2024
In case of loss GST not applicable.
In case of profit 18% GST applicable.
In case of profit 18% GST applicable.
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