https://www.taxtmi.com/forum/issue?id=119208 Where plant and machinery on which ITC was availed is sold as scrap after decontamination, GST consequences include GST charged on the sale invoice and a required reversal of ITC; if GST invoiced on the sale exceeds the ITC reversal amount, the illustrative calculation shows no additional GST payment is necessary when compared to GST computed on net realisation. The taxpayer queried whether authorities could require GST based on net realisation; a respondent cited an Advance Ruling paragraph for guidance and commenters recommended concise, professional advice. en-us Tue, 16 Jul 2024 10:23:44 +0530 Fri, 24 Jan 2025 10:40:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119208 Where plant and machinery on which ITC was availed is sold as scrap after decontamination, GST consequences include GST charged on the sale invoice and a required reversal of ITC; if GST invoiced on the sale exceeds the ITC reversal amount, the illustrative calculation shows no additional GST payment is necessary when compared to GST computed on net realisation. The taxpayer queried whether authorities could require GST based on net realisation; a respondent cited an Advance Ruling paragraph for guidance and commenters recommended concise, professional advice. Discussion-Forum GST Tue, 16 Jul 2024 10:23:44 +0530 https://www.taxtmi.com/forum/issue?id=119208