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Applicability of VAT upon sale of business activity

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(Querist)
18 May 2009 One of the activity (demerger) of business is demereged into another business including manufacturing units / other assets. Whether VAt is payable upon execution of this transaction on the trading stocks in Maharashtra
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Sanjeev Kumar

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Sanjeev Kumar (Expert)
19 May 2009 stock is levy for VAT but other(s) are not leviable
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arvind

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arvind (Querist)
19 May 2009 I am of the opinion that upon taking over a business under an agreement, which, infact, is not a sale (which could be defined as restucturing of business whether under court's orders or not - the liability of payment of VAT occurs upon actual sale of the stocks to the subsequent trader or end user. I need someone to logically [under VAT provisions (Maharashtra)] could ratify my views or explain the actual position.
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arvind

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arvind (Querist)
20 May 2009 awaiting reply to the query above
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