I have purchase some capital goods by paying GST on it. As I am selling goods which are exempted under GST so I have not taken any input against this. I am registered in GST and paying GST of some taxable turnover.
After 3 years I have sold out this, Now my question is whether I have to charge GST on these capital goods, if yes then its not double taxation or can I availed input credit on the same now.
GST Must Be Paid on Sale of Capital Goods Even Without Initial ITC; No Double Taxation A user inquired about the Goods and Services Tax (GST) implications on selling capital goods purchased for an exempted unit. Since no input tax credit (ITC) was claimed initially, the user questioned whether charging GST upon sale constitutes double taxation. Responses clarified that GST must be paid on the sale of capital goods, as the initial tax was part of the cost. The discussion highlighted the inability to claim ITC for invoices older than 12 months, per GST regulations, and debated the applicability of specific provisions for vehicles to other capital goods. (AI Summary)
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