Sale of Capital Goods

[@m.p.lingamshashwatyashmit1909]

Sir, understandable explainations..Thanks..

[@imganesh4569]

Extraordinary explanation 👌

[@ABNFAST]

good sir very helpful

[@SREEKUMARPNSREE]

You are doing a wonderful job ... I watch your video repeatedly ...

[@insidegst6767]

Thanks for appreciating the efforts ;)

[@NitinKumar-ej5vq]

Sir I want to know regarding sale of capital goods whether taxpayer has to pay gst on sale of used cars where input credit is not taken under GST or earstwhile VAT laws. Further to it if taxpayer do not sale old machinery but transfer the machinery to its branches in other states. What will be the taxability ?

[@rajeshpatel8989]

I want to cancel my Partnership GST registration, I have sold my all stock n paid the tax but I have fixed assets in balance sheet should I need to pay GST on fixed assets, if yes at what rate I need to pay tax. Fixed assets are taken over by partner. This assets were purchased before GST and no itc was claimed in GST nor in VAT

[@rajeevkrdas2414]

No need to pay GST because if ITC is not availed then it is not regarded as supply as per section 7(1A) ,Newely inserted sec . Previously it was regarded as supply and GST was leviable as per section 7(1)(d). Now this is ammmended

[@baalachandarasekaranvittal4748]

When showing the sale of capital goods in gstr1 column no.4. You said as per calculation which amount is higher we have to add in output liability. My doubt is What amount I have to show in taxable value. Please inform

[@nubhaskar3842]

1) Shall we reverse ITC, if Capital goods sold in addition the above treatment. Please let me clarify. (2) We are taking ITC on Goods and Services as usual. If the said goods later on capitalized, we want to raise the Self Invoice for Capitalized goods, is it permissible in GST.

[@ranjitsahu2452]

Sir, car purchsed around 6 years ago, now we are going to sale...so shall we apply the above calculation method(as shown in video...as per 18(6) of cgst and rule 44(b)(c)

[@gopaljoshi9334]

Good evg sir, Sir I purchased car in the name of company in the year 2009 under vat act, now i am going to sale it...is GST applicable on sale of such car?? Please ans. Sir

[@Anjalivllogs]

GOPAL JOSHI agr aapko pta h iss case ke bre mai to mujhe bhi bta do....kuki mere pass bhi same case h....

[@bablubadgurjar8191]

@@Anjalivllogs , please calculate wdv at selling date, if assete selling with margin then tax will be charged on margins amounts only under gst

[@madhavanpi8588]

Hlo sir. If we are going to show Rs 15000 in Gstr1 . The receiver is going to get itc Rs 15k but actually tax invoice is issued for 14,400 and the receiver paid the same. I think so we need to show Rs .14,400 in GSTR1 and remaining Rs 600 needs to shown in reversal of ITC in GSTR3.

[@harinderkumar8697]

thanks alot for uploading this video. i have doubts in case of non availment of ITC on fixed assets then how we calculate gst at the time of sale of fixed asset... 2ndly if we are selling fixed asset to those persons who is registered in gst then we have to show this transaction in B2B in Gstr-1??? regards HARINDER Kumar

[@raghunathachrekar1736]

what is the exemption limit per bill of transportation. is it RS 750/-OR RD 15OO/- AND IF THE TRANSPORTATION CHARGES PAID TO THE OTHER STATE TRANDPIRTER THEN WHAT IS THE RATE. AND SINGKE BILL LIMIT PL REPLY

[@kumarhattanna2855]

Sir please confirm whether we need determine tax on remining month or days. Suppose let us assume that month, 6 days how do we consider.

[@shivchoudhary4399]

I think its 5% per qtr