https://www.taxtmi.com/forum/issue?id=116587 GST on bank sales of repossessed assets depends on the margin scheme under Rule 32(5) and the borrower's registration status: one view holds that resale below the original price attracts no GST under the margin scheme; another applies a time-based reduction to determine purchase price for second-hand goods; a separate interpretation treats sales from repossession by a registered borrower as fully taxable while applying the reduced-purchase-price rule only for unregistered borrowers. en-us Wed, 29 Jul 2020 19:59:50 +0530 Thu, 23 Jan 2025 15:54:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116587 GST on bank sales of repossessed assets depends on the margin scheme under Rule 32(5) and the borrower's registration status: one view holds that resale below the original price attracts no GST under the margin scheme; another applies a time-based reduction to determine purchase price for second-hand goods; a separate interpretation treats sales from repossession by a registered borrower as fully taxable while applying the reduced-purchase-price rule only for unregistered borrowers. Discussion-Forum GST Wed, 29 Jul 2020 19:59:50 +0530 https://www.taxtmi.com/forum/issue?id=116587