https://www.taxtmi.com/article/detailed?id=9179 GST applies to transfers of capital goods differently depending on whether ITC was availed and whether consideration is paid: if ITC was availed and supply occurs before five years, tax is the higher of GST on transaction value or ITC attributable to remaining life; if ITC was not availed and supply is for consideration, tax is on the transaction value; transfers without consideration are taxable only when Schedule I treats permanent disposal of business assets with ITC as supply; motor vehicles follow special concessional notifications when no ITC was claimed, otherwise normal apportionment rules apply. en-us Fri, 15 May 2020 09:41:17 +0530 Fri, 15 May 2020 09:41:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9179 GST applies to transfers of capital goods differently depending on whether ITC was availed and whether consideration is paid: if ITC was availed and supply occurs before five years, tax is the higher of GST on transaction value or ITC attributable to remaining life; if ITC was not availed and supply is for consideration, tax is on the transaction value; transfers without consideration are taxable only when Schedule I treats permanent disposal of business assets with ITC as supply; motor vehicles follow special concessional notifications when no ITC was claimed, otherwise normal apportionment rules apply. Articles Goods and Services Tax - GST Fri, 15 May 2020 09:41:17 +0530 https://www.taxtmi.com/article/detailed?id=9179