SALE OF PLANT AND MACHINERY

[lagudu sivakumar]

Hai Sir,

One of our client is a Composition dealer, and now they want to sell their Plant and Machinery, purchased before 2017,

1. whether it is taxable , if it is taxable whether invoice is raised

2. what is the gst rate( as a composition dealer can we give invoice at 1% or other rate)

Please give your suggestions

Thanking You Sir

AI Summary

Composition Dealer Queries Taxability and Invoicing for Plant and Machinery Sale Pre-2017; 1% GST Suggested A client, who is a Composition dealer, seeks advice on selling their Plant and Machinery purchased before 2017. They inquire about the taxability of the sale and whether an invoice should be raised. Two responses suggest issuing an invoice with a 1% GST rate. One respondent advises confirming that the sale does not push the client's turnover beyond the prescribed limit for Composition dealers.