Sale of old Plant and Machinery
This query is : Resolved
22 September 2020
Dear Sir,
We have sold some old machinery which was purchased during the VAT regime in f/y 2018-19 and on which depreciation is claimed. The Machinery is sold much below the WDV. Will we be liable to GST on it.
We have sold some old machinery which was purchased during the VAT regime in f/y 2018-19 and on which depreciation is claimed. The Machinery is sold much below the WDV. Will we be liable to GST on it.
22 September 2020
Yes, you will be liable to pay GST on sale value if you are registered under GST.
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