Disposal of Capital Goods in GST

Last updated at April 16, 2024 by

Capital Goods Purchased should be used for atleast 60 months

If they are disposed of before 60 months/business closed within 60 months,Input taken has to be reversed

 

Q1 - Suppose Machine Purchased on 19 July 2017 as follows

PARTICULARS AMT
MACHINE 100000
CGST 9000
SGST 9000
TOTAL 118000

IT IS DISPLOSED ON 23 OCT 2017

View Answer

 

Q2 - Suppose Machine Purchased on 19 July 2017 as follows

PARTICULARS AMT
MACHINE 100000
CGST 9000
SGST 9000
TOTAL 118000

IT IS DISPLOSED ON 23 OCT 2022

View Answer
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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.