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TMI BlogGST RATE FOR USED MEDICAL EQUIPMENTX X X X Extracts X X X X X X X X Extracts X X X X ..... GST RATE FOR USED MEDICAL EQUIPMENT X X X X Extracts X X X X X X X X Extracts X X X X ..... Please Reply REPLY Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: The buying and selling of second-hand goods will not attract Goods and Services Tax (GST) if sold at a price cheaper than the purchase price. Rule 32(5) of the Central Goods and Services Tax (CGST) Rules, 2017, provides that where a taxable supply is provided by a person dealing in buying and selling of second hand good ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s or used goods as such or after such minor processing which does not change the nature of the goods and where no input tax credit has been availed on the purchase of such goods, the value of supply shall be the difference between the selling price and the purchase price and where the value of such supply is negative, it shall be ignored. Reply By Yash Jain: The Reply: Dear Sir, Gst will be le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vied on sale of equipment as it will amount transfer of asset. Value will be WAV or sale price whichever is less However if you are trader, in second hand goods then not applicable, provided sale value is less than WDV. Rgds Reply By RSuresh Goud: The Reply: Dear Sir, thank you very much for your answer. sir i am full details of my problem. -please kindly answer me We are running Hospital u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder public charitable trust Hospital. Hospital Units are Exempted from GST,However we made GST Registration under GST in order to account for reverse charges,rent etc. We are selling our Old UltraSonography machine,which was purchased on 23/03/2011 for ₹ 18,59,000. Written down Value of above said machine as on today works out 5,09,912. Now we are selling the above equipment to the suppli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er of medical equipment on byback basis against purchase of New Ultra Sonography Equoipment,for which supplier of machinery has agreed to adjust cost of byback old equipment for ₹ 9,00,000. Kindly intimate GST to be charged by us against sale of above said medical equipment. Kindly intimate rate of IGST and amount of IGST to be charged in bill X X X X Extracts X X X X X X X X Extracts X X X X
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