26 March 2008
we are share broking firm NSE/BSE registered. we are selling fixed assets to a company registered in kolkata which is also engaged in share broking and provision of other financial services, at book value. we are not vat /cst registered entity. this is not our nature of business. should we charge vat or cst.
27 March 2008
Vat/CST is applicable only in respect of sale of business goods . In my opinion, Capital goods in ur case does not attract VAT/CST liability since it is not transaction in the nature of sale of goods
CAclubindia
