implication on trf of stock in trade & capital goods
This query is : Resolved
18 April 2010
wat is implication of VAT if a entity ceases operation and transfers its
1) stock in trade - VAT to be paid?
2) capital goods - VAT to be paid?
1) stock in trade - VAT to be paid?
2) capital goods - VAT to be paid?
18 April 2010
Yes, you have to reversed vat credit which you have taken at the time of purchae. i.e vat is to be paid on transfer.
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