Question: Is GST leviable on conversion of stock in trade to capital asset?
Answer: No. GST is levied on supply of goods or services. In this case there is no supply. Further, this conversion of stock in trade to capital does not fall in Schedule I. Therefore, no GST will be leviable on this conversion.
Our site provides comprehensive GST resources, including expert Q&A, latest case laws, in-depth articles, updated notifications, statutory rules, legal provisions, and tariff schedules. Designed for professionals, businesses, and learners, we aim to simplify GST compliance and enhance legal understanding with accurate, up-to-date, and practical insights on GST matters.
Contact us: info@gstindiaguide.com
© GSTINDIAGUIDE
