Applicabilty of VAT on used business assets
This query is : Resolved
06 September 2007
i need a clarification on the applicabilty of VAT on resale of used business assets(like computers)for a software company.
Please also let me know the procedure for payment of VAT when i am not liable to get registered either as VAT dealer or TOT dealer.
Please also let me know the procedure for payment of VAT when i am not liable to get registered either as VAT dealer or TOT dealer.
06 September 2007
Yes you need to pay VAT.
But you are telling you are not liable to registered if your respective state law not require for the registration or not qualifing for payment of VAT then not require to pay . check your state VAT law
But you are telling you are not liable to registered if your respective state law not require for the registration or not qualifing for payment of VAT then not require to pay . check your state VAT law
06 September 2007
Sir,
thanks for your reply.
according to APVAT if the TO exceeds Rs 40 Lakhs then only we can get registered as VAT dealer.
This item is specifically covered under the act but as the TO of the software co with respect to VATabel items is Rs 2 lakhs, i am confused as to the procedure for making payment under APVAT.
thanks for your reply.
according to APVAT if the TO exceeds Rs 40 Lakhs then only we can get registered as VAT dealer.
This item is specifically covered under the act but as the TO of the software co with respect to VATabel items is Rs 2 lakhs, i am confused as to the procedure for making payment under APVAT.
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