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VAT on sale of assets

This query is : Resolved 

07 February 2009

What are provision under MVAT for Sale of assets from one company to another company. and the selling company is going concern.
And can buyer claim input credit of the above transaction as there will not be a inovice raised,but all assets will transfer through an agrement

CA Nitin Wadhwani (Expert)
08 February 2009

VAT is leviable on sale of assets.
Buyer can input credit if invoice is raised.

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