26 August 2009
We have two units in Faridabad, one unit was sold (i.e., land and building) alongwith the plant and machinery, furniture and all the electric installation, under an Agreement. Stamp Duty was paid on the agreement.
I would like to know whether vat will be charged on the sale of plant and machiney, furniture and electric installation under Haryana VAT Act.
Also, whether the payment of stamp duty will have any impact on the vat payment
11 September 2009
usually stamp duty is only on land and building. On sale of plant and machinery and furniture etc, you have to pay vat. First see how have you constructed you sale agreement.
CAclubindia
