Dear experts,
I have purchased machinery in 2010 and amount is above 1 cr also I have taken ecxise duty credit now I want to sale the machinery RS. 90 lac. how I can calculate gst liability for sale the machinery
Thanks & Regards.
6 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 21 March 2018
u have to charge gst on transaction value (90lac) ( rate applicable on machinery)
yogesh mahajan
(56 Points)
Replied 21 March 2018
sir I think some provision regarding reducing gst liability as per input credit taken in before gst
Uday
(Article Assistant)
(411 Points)
Replied 21 March 2018
1) Any unutilized CENVAT credit as on 30/06/2017 can be carry forward in Electronic credit Ledger
2) As the machine purchased in 2010, credit if taken would have been utilized / lapses
3) Hence As Mr. Pankaj said Charge GST on transaction value
2) As the machine purchased in 2010, credit if taken would have been utilized / lapses
3) Hence As Mr. Pankaj said Charge GST on transaction value
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 21 March 2018
No yogesh ji there is no provision , yes uday ji is correct , if any unitized CENVAT credit would have been c/f but , i dont think as the machinery was purchase in 2010
yogesh mahajan
(56 Points)
Replied 21 March 2018
ok thanks sir sec 15 of gst act is applicable in this case. Thanks for given valuable feedback.
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