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Chirag Parmar
( Author )
02 May 2012
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is vat applicable to Govt regulatory body on sale of obsolete fixed asset???
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MJ Krishnamurthy
( Expert )
03 May 2012
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Mr Parmar
When the Central Govt, State Govt or regulatory body,whether registered or not,have to collect VAT on their sale of taxable goods(scrap also) and deposit such collected tax to the govt. They also should file a return in such months...MJK
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Chirag Parmar
( Author )
07 May 2012
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but as it is they are not into the regular business of selling any scrap....
so why sould they collect tax??
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MJ Krishnamurthy
( Expert )
07 May 2012
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Mr C parmar,
The govt bodies need not be,and they won't be also,in regular business of selling taxable goods like old machines,furniture,seized vechicles,gold,etc. This is a special provision made for govt,semigovt,PSUs(like Banks,transport corporations,finance corporations,insurance organisations etc.
MJK
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Chirag Parmar
( Author )
08 May 2012
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and sir one more thing
an entity has 2 units i.e. one is Sez unit and the other one in DTA zone so can the service tax cenvat credit of SEZ unit be setoff against the DTA unit???
the question is related to Service tax
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MJ Krishnamurthy
( Expert )
08 May 2012
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Mr C parmar,
I am not familiar with ST and cenvat.Let other experts reply....MJK
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Chirag Parmar
( Author )
09 May 2012
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ok sir n thanks for the help
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