Fixed assets are the assets or things purchased for a long-term purpose. These may include immovable properties such as buildings and lands as well as equipment such as machinery, computers, etc. In this post, We are going to show you about GST on Sale of Fixed Assets. Keep reading…
Before GST
Before the implementation of GST (Goods & Services Tax) in India, Fixed Assets were liable to a number of taxes, including excise and service tax. Also, there were multiple and complex restrictions on Cenvat credit availability, sale and disposal of fixed assets.
