Is GST leviable on conversion of stock in trade to capital asset?
CA. Rajiv Gupta Asked question October 26, 2020
No, as we know GST is levied on supply of goods or services. In this case there is no supply and there is no consideration involved. Further, this conversion of stock in trade to capital does not fall in Schedule I. Accordingly, no GST will be leviable on this conversion.
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Frah Saeed Changed status to publish October 26, 2020