Vat applicability

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Querist : Anonymous (Querist)


05 January 2012

Dear sir/madam,


i am working as a taxation executive in a pvt ltd comapany.

i am having doubt about vat on resale of fixedassets, whether vat is aplicable or not in tamilnadu.


kindly clarify

Regards
Madhusudhan.A

MJ Krishnamurthy (Expert)


06 January 2012

Mr Madusudan,
In any state there is no VAT on sale of immovable assets such as land and buildings,but if the fixed asset can be removed and sold i.e. machineries,plants etc then it becomes taxable.
MJK


Querist : Anonymous (Querist)


25 January 2012

Sir,

Thanks for your guidance sincire reply



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