Mavt
Querist : Anonymous
2) A sells 100% of imports to B & pays MVAT on such sale
Now -
A wants to takeover the the entire business of B under SLUMP SALE. Assets of B includes Inventory (Purchases from A) on which A has already paid the MVAT. So in future when A will sell the such Inventory then A will have to pay MVAT again on the same goods.
So my Questions are -
1) Is there any provision under MVAT which covers above situation ?
2) Whether A can take back the ENTIRE inventory as SALES RETURN to avoid double taxation? (As Agreement between A & B provide for return)
Please Clarify
Querist : Anonymous
But what will the effect of it?
Querist : Anonymous
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