A land was sold along with Plant & Machinery against Sales Consideration of Rs. 8,92,50,000/- during post GST regime.
As per sale deed, valuation amount is as below-
Land - 12,29,40,000
Boundary Wall - 10,05,000
Duck & Machinery - 9,98 250
I want to know GST applicability on the said transaction.
Whether GST will be levied or not ?
Give your answer with reasons.
GST is applicable over sale of fixed assets, ie. over Rs. 9,98,250/-
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