incidence & levy of tax

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rohit (Querist)
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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.

CA Shailesh +91 9393926464

CA Shailesh +91 9393926464 (Expert)
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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

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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27 March 2008 YES I THINK MR SHAILESH IS CORRECT

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