https://www.taxtmi.com/forum/issue?id=114131 Resale of plant and machinery requires reversal of input tax credit where credit was taken; the seller must pay an amount equal to the input tax credit reduced by prescribed percentages or tax on the transaction value of the goods, whichever is higher, and Rule 44 prescribes the method for computing the amount, while supplies of certain items as scrap may be taxed on transaction value. en-us Sat, 08 Sep 2018 12:38:57 +0530 Thu, 23 Jan 2025 15:55:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114131 Resale of plant and machinery requires reversal of input tax credit where credit was taken; the seller must pay an amount equal to the input tax credit reduced by prescribed percentages or tax on the transaction value of the goods, whichever is higher, and Rule 44 prescribes the method for computing the amount, while supplies of certain items as scrap may be taxed on transaction value. Discussion-Forum GST Sat, 08 Sep 2018 12:38:57 +0530 https://www.taxtmi.com/forum/issue?id=114131