top button
Flag Notify
    Connect to us
      Facebook Login
      Site Registration Why to Join

Facebook Login
Site Registration

What is implication of GST on sale of scrap of store items (Plant and machinery etc)?

+1 vote
22 views
What is implication of GST on sale of scrap of store items (Plant and machinery etc)?
posted Feb 22, 2018 by Pratiksha Shetty

Share this question
Facebook Share Button Twitter Share Button LinkedIn Share Button

1 Answer

0 votes

We understand that, as per survey off policy issued by CIL, the assets are sold off as scrap after the use of minimum 10 year. We also noted that the some assets are appearing in surveyed off since 2000.

Thus, if the capital assets are procured before 01.03.2011(day when coal becomes excusable) and cenvat credit has not been availed and utilized, (in Excise Register or GST Register) the GST would not be payable on scrap sale of Plant and Machinery as neither Cenvat credit avail nor GST Credit, no question of reversal of ITC will arise. In this issue, we have favorable Judgment in our own case.

However, we have to establish that the items sold as scrap was procured before 01.03.2011 and cenvat credit was not availed. This becomes very clumsy. It is prudent to charge GST on sale of scrap and issue Proper Invoice accordingly.

answer Feb 23, 2018 by Anita Yadav
Similar Questions
0 votes

Hello everyone, I just want to know what are the provisions under GST for the person selling apps on Google Play store or Apple App store or earning revenue through Google admobs.

Are they liable to get registered under GST even though their annual sales does not exceed 20 lacs?

Contact Us
+91 9880187415
sales@queryhome.net
support@queryhome.net
#280, 3rd floor, 5th Main
6th Sector, HSR Layout
Bangalore-560102
Karnataka INDIA.
QUERY HOME
...