HOW MUCH PERCENTAGE GST CHARGE WHEN WE REMOVE OLD MACHINERY AS SCRAP

[BHAKTIKANT BHATT]

sir,

WE HAVE PACKAGING INDUSTRIES MANUFACTURING A PLASTIC FILM ROLL. WE WANT TO REMOVE ONE OLD MACHINERY AS A SCRAP(USE APPROXIMATELY ABOVE 10 YEARS)

KINDLY TELL ME HOW MUCH PERCENTAGE GST WE NEED TO CHARGE ON SCRAP VALUE BILL OF OLD MACHINERY REMOVE FROM FACTORY.

KINDLY GIVE YOUR VALUABLE SUGGESTION

THANKING YOU

AI Summary

GST on Old Machinery Scrap: 18% Rate Based on Transaction Value for Packaging Industry A query was raised regarding the applicable GST percentage when removing old machinery as scrap from a packaging industry. The machinery in question is over 10 years old. Two responses were provided: one suggesting that the GST should be based on the transaction value with a rate of 18% (comprising CGST and SGST), and the other confirming that GST is payable on the transaction value.