2024 Gst on sale of used laptop

Gst on sale of used laptop

Author: zvtf

August undefined, 2024

WebSale and disposal of business assets. Business assets include old furniture, office equipment and non-residential property. Generally, you have to account for GST (i.e. output tax) when you: sell your business assets (including disposal of or transfer of asset to another party with consideration received); and. WebFeb 14, 2024 · Supply goods under GST can be of Fresh Goods and Used (Second Hand) Goods. For the purpose of taxability under GST and ease of understanding, Second Hand Goods are further bifurcated as follows: …

GST rate - latest on scrap of computers, monitors, …

WebJan 7, 2024 · The Senate Standing Committee on Finance and Revenue, on Friday, approved the proposed 5 percent sales tax on imported laptops and personal computers. WebOct 30, 2024 · GST on Sale of Fixed Assets in India (2024 Update) File All Your GST Returns with Gen GST Software (Available in Desktop and Online (Cloud) Variant) Due Dates: GSTR 3B, GSTR 1, (GSTR 9, and GSTR 9C) and GSTR 4 Respectively as Follows: 20 March, 11 March , 31 March and 18 Apr 2024 (Read a Guide) Get A Free Demo Now !! dunkin donuts other name

HSN Code for Used Laptop in India - Export Genius

WebNov 11, 2024 · For determining the value of supply or GST the tax obtained at the source in the provision of income tax 1961, should not be included. TCS U/s 206 (C) (1) of Income Tax Act, 1961 should be managed on value inclusive of GST. Download a Free Trial of Gen GST Software New Tax Offer - Upto 20% Off* WebWhen you purchase anything, you are required to pay GST on it. Later, you can claim input tax credit on the GST paid on your purchases. SImilarly, when you are purchasing any machinery for your factory, you will pay the applicable GST rate. This GST paid can be claimed as credit in the same way as inputs. WebMar 2, 2024 · The GST rate structure for some of the commonly-used consumable products is given in the below table. For more items, type in the item you wish to know the GST rate of by visiting our HSN code & GST … dunkin donuts pay rate sheet

Tax Impact of sale of Fixed Assets by Company to its employees

WebFeb 10, 2024 · The introduction of GST has brought uniformity in product prices all over the country. Under the VAT regime, mobile phones were taxed at 5% along with 1% excise duty. In some states like Gujarat, the tax rate was as high as 14%. Thus, anyone would purchase from selected dealers where the price was low. WebAug 11, 1999 · B-084R Treatment of Used Goods. You can view this publication in: HTML b-084r-e.html. Last update: 1999-08-11. Report a problem or mistake on this page. … dunkin donuts orrington maineWebDec 9, 2024 · GST is levied at the rate of 18% on the sale of laptops. Earlier the GST rate was 15% on laptops, but it increased just a few weeks back, making laptops more … dunkin donuts peachtree city ga

"WebAug 3, 2024 · Employer bought laptop from Vendor for company use in 2024 = 70,000 (including 18% GST) [ 59,323 + 10677 (18% GST) = 70,000) 2. Employer for some … " - Gst on sale of used laptop

Gst on sale of used laptop

GST adjustments for business, private and exempt use - ird.govt.nz

WebOct 13, 2024 · Let us Understand with an Example. Purchasing Value of Assets is Rs 50,0000 + 18% of GST is (9000) = Total Value of Asset is Rs 59,000, ITC Taken = Rs 9,000. So ITC of balance useful life = 9000*5/60 = Rs 750 (Amount) Let’s assume actual consideration amount is Rs 4000. WebJan 24, 2024 · In GST law the outward tax is always payable on the Sale Value of goods sold, like in earlier indirect laws. But in GST, there is a concept of Margin scheme under …

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WebMay 15, 2024 · sir at which GST rates we can sale old office furniture and computer and which hsn code will be applied 1 Replies Kunal Mittal (FINANCE OFFICER) (575 Points) Replied 15 May 2024 if you are selling it as scrap then 5% and hsn will be furniture scrap. if not scrap then 18% and hsn will be that is used for new furniture. WebThe applicable GST rate on IT accessories such as LAN and data cables is set at 28% each; earlier, the applicable rate was 17.5%. Other accessories such as fax machines, photocopying machines, ink cartridges, and more come with a GST rate of 28% as opposed to the 18% rate levied earlier.

WebNov 21, 2024 · There is a flat rate of 18% GST on laptops and other electronic accessories as decided by the GST council. This means that if you purchase a laptop from a local … WebAug 24, 2024 · Rate of GST on old Motor Vehicles as per Notification No.8/2024 Central Tax (Rate) Q 1. A registered person who sells his old and used fixed assets. If the registered person sells such assets on which …

WebAug 28, 2024 · The rate of GST applicable on a supply made by the applicant of desktops consisting together of CPU, monitor, keyboard and mouse classifiable under CTH 8471 is taxable @ 9% CGST as per Notification No. 01/2024-C.T. (Rate) dated 28.06.2024 & 9% -SGST under Notification No.II (2)/CTR/532(d-14)/2024 vide G.O. (Ms) No. 72 dated … WebPhil is a GST-registered contractor who bought a laptop for $3,000 (GST exclusive) for use in his business, for the principal purpose of making taxable supplies. ... She will not have to pay GST on the sale. The land used for farming would still be subject to GST. Rebecca can still claim part of her operating costs (such as rates, insurance and ...

WebMar 19, 2024 · Further, if the goods are sold at ₹ 500/- and the depreciated value is ₹ 600/- then the value of the goods shall be ₹ 500/- and taxable value shall be 600/- and GST will be applicable on ₹ 600/- @ 18%. Our experts may correct me if mistaken 4 Dated: 19-3-2024 By:- Ganeshan Kalyani yes i agree. 5 Dated: 20-3-2024 By:- KASTURI SETHI Dear …

WebMar 7, 2024 · firm laptop will be treated as Business asset and as per clause1 of schedule 1,where there is a sale of any business asset upon which itc has been claimed it will be treated as supply. So in case if your firm has claimed itc on that used laptop then it is treated as supply, otherwise not. Online GST Certification Course dunkin donuts philly thingWebMar 19, 2024 · (ii) for capital goods, other than computers and computer peripherals @ 2.5% for each quarter : Provided that if the amount so calculated is less than the amount … dunkin donuts phenix city alWebJul 5, 2024 · All the goods and services are taxed under seven slabs – 0%, 0.25%, 3%, 5%, 12%, 18% and 28% on the ... dunkin donuts pesto sandwichWebDec 19, 2024 · GST Invoice Format in Excel. Here are the steps you need to follow to create GST invoice using excel: 1. Open Microsoft Excel. Open Microsoft Excel, click on ‘File’ tab and then select ‘New’ from the … dunkin donuts pershing drive ansonia ctWebMay 20, 2024 · Yes GST applicable at the time of Sale . For Laptop hsn code is 84713010 and GST rate 18%. Similar rate for desktop machine. if your are all together getting 1500 … dunkin donuts pics of donutsWebMay 16, 2024 · Once a proprietorship becomes a GST registrant than they must apply GST to the sale of any service, goods, or asset. The GST rules are based on the type of supply. Ordinarily, all supplies are GST rated unless otherwise specified. Some supplies are Zero rated. Some supplies are exempt. dunkin donuts piney orchardWebJan 15, 2024 · What is the applicability of GST on laptops? GST is now levied at a rate of 18% on laptops, hence taking the total price a little higher than what consumers would … dunkin donuts peterborough nh