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Discussion > VAT > DVat >

Vat on sale of machinery

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[ Scorecard : 44]
Posted On 13 February 2013 at 12:18 Report Abuse

should vat collected while selling the machinery ?


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Anandan
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[ Scorecard : 492]
Posted On 13 February 2013 at 14:07

@ Rishab, Yes you should collect vat, while seliing the machinary.

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Anandan.s

 





Akshit
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[ Scorecard : 33]
Posted On 15 February 2013 at 16:51

Here I am assuming that the machinery u are talking about is a used machinery. When selling a machinery (capital good), the implication of VAT depends upon two things: 1) You must have used that machinery for making goods which are taxed when sold, and 2) You should NOT have taken input tax credit on purchase of such machinery. If both the conditions are satisfied, only then you are EXEMPT from paying(or clooecting) VAT on the sale of machinery.



Kaushik Vinod
CA IN PRACTICE


[ Scorecard : 1214]
Posted On 19 February 2013 at 07:45

Yes Agree with Aksh*t




Rishabh Mishra


[ Scorecard : 44]
Posted On 21 February 2013 at 11:50

thnks aksh*t



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