What is the gst provision on sale of capital asst on which
(I) ITC is calimed
(ii) ITC not claimed
is any scheme available. if so please give me the notification number
If itc not claimed gst to paid on sale of capital asset as normal outward supply.
where itc claimed you proportionately calculate remaining itc of remaining life take life of asset as 60 months. You also calculate output tax on capital asset through rate and value. the higher of remaining itc and the output tax has to be paid .
For further clarification you can mail me.
CAclubindia
