There has been a lot of talks recently, and confusion as to whether GST has to be paid on sale of capital goods or not. I have tried to clear this by explaining the above aspect in the following scenarios.
1. Capital Goods Supplied for a consideration on which ITC has been availed.
2. Capital Goods Supplied for a consideration on which ITC has not been availed (Including assets acquired before GST Regime).
3. Capital Goods Supplied for NIL consideration on which ITC has been availed.
4. Capital Goods Supplied for NIL consideration on which ITC has not been availed (Including assets acquired before GST Regime).
Source Taxguru
Latest Posts in "India"
- Insurance Brokers Push for Zero-Rated GST to Restore Input Tax Credit and Prevent Premium Hikes
- Delhi High Court: ITC Re-credit Cannot Be Denied Due to GST Portal Technical Limitations
- Key GST and Customs Legal Updates: E-Filing, ITC, Refunds, and Recent High Court Judgments
- CBIC to Slash Customs Clearance Time to 1-48 Hours with New Integrated Digital System
- GSTAT E-Filing: Staggered Appeal Timelines and Limitation Rules Under Section 112 Simplified
