GST RATE FOR USED MEDICAL EQUIPMENT

[RSuresh Goud]

Sir . We have trust Hospital. We purchased a medical equipment before 7 years back. now we want to sell that machine. now company accepted to buy the machine at 9 lakh. then how much GST rate we will collet from that company. Please Reply

REPLY

AI Summary

Hospital Selling Used Medical Equipment: GST May Not Apply If Sold Below Purchase Price; Consider Asset Transfer Rules A hospital operating under a public charitable trust inquired about the applicable Goods and Services Tax (GST) rate for selling a used medical equipment, originally purchased for 18,59,000, now being sold for 9,00,000. The responses clarified that if the equipment is sold at a price lower than its purchase price, GST may not apply. However, if the sale is considered a transfer of assets, GST would be levied based on the Written Down Value (WDV) or sale price, whichever is lower. The hospital had GST registration for accounting purposes, including reverse charges and rent.