Second hand good purchased from ex employer (Bank)

[vivin vijay]

Dear expert, I am currently working in bank, wherein I have purchased furnitures under the furniture allowance of the bank, the purchsses were made in 2015 and 2016, wherein I had paid VAT, (GST was not implemented at that time), these furnitures were purchased in the name of bank, now since I am leaving the organization , I have to purchase it back from the bank at depreciated cost, my bank while has depreciated the value, but has charged me GST on the depreciated value , my question is is GST applicable? Does it not come under the section 32(5) , where in a second hand good will not come under GST as the selling price is Lower than purchase price ,and no input credit was obtained at the time of purchase ( please note the purchaser is a bank) , my last question if it's applicable , on what value is it applicable , on the difference between purchase and sale or the sale price ?

AI Summary

GST on second hand goods: tax applies on the employer's sale and valuation follows GST transaction value rules.
GST applies to the employer's sale of used assets when the transfer is a taxable supply and the seller is disposing of capital assets rather than trading in second hand goods. Taxable value must be determined under GST valuation rules and generally supports charging tax on the transaction value of the disposed asset; second hand concessions aimed at dealers do not automatically apply. Parties must also consider asset classification, reversal or adjustment of prior indirect tax credits, and the applicable tax rate for the class of goods.