Sale of Old furniture
This query is : Resolved
Suman Parekh
(Querist)
05 July 2010
A company is planning to sell its old furniture which was as fixed assets in its books. Whether TN VAT is applicable on it.? and if yes what is the VAT rate?
Bharath Kumar
(Expert)
05 July 2010
Not applicable. Sale in normal cource of business is only taxable under VAT
05 July 2010
vat is not applicable because it is not company's business
Message likes :
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CA Ravi Sisodia
(Expert)
05 July 2010
vat is not applicabe on sale of fixed assets.
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