Wednesday, June 14, 2017

goods or machinery transfer under gst


goods transfer

current law
  • goods transfer is currently exempt from on submission of Form F


gst law
  • Supply includes goods transfer and will be taxable. This can create cash flow problems.

plant and machinery transfer


current law:

  • CENVAT credit to be reversed under excise law

gst law

  • Transfer of Plant and Machinery is Supply and GST is Applicable.

Q&A

Q.1) gst is applicable for transfer of plant and machinery ?

Yes
No

Ans: Yes

Q.2) gst is applicable for stock transfer ?

Yes
No

Ans: Yes

Q.3) Form F is available in GST Law ?

Yes
No

Ans: No

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