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gst on plant and machinery ( used)

Girish (student) (72 Points)

30 January 2019

we have purchased plant and machinery worth RS ,65,0000..before GST..,i.e on 1.4.2016.

Now if I want sell same.. how to calculate gst on it ?

purchase date 1.4.2016
purchase value 65,0000
sale date. 15.3.2019 (assumed)
sale value 56,0000

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3 Replies

Sanjiv Rajpoot (3430 Points)
Replied 31 January 2019

my opinion calculate gst on sale value
confirm with other alsi

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Pankhuri Agrawal (Chartered Accountant) (412 Points)
Replied 31 January 2019

GST needs to be paid on same of machinery at the sales value if you have not claimed ITC earlier at the time of purchase. Therefore, calculate GST of 5,60,000.'

However, if ITC was claimed earlier, GST will be charged on the difference of Sales value and purchase price. In case of negative, ignore. In the current senario, it should be nil.