Sales tax on fixed assets sold
This query is : Resolved
05 January 2013
We have sold Company furniture & airconditioner to our CEO while leaving the organisation & raised sales invoice on him.Should we charge vat on his sales bill.If yes what will be the %
Guest
Guest
(Expert)
06 January 2013
06.01.2013
Dear Prashant,
The higher of VAT @ 12.5% or the VAT rate prevalent in the State of sale is chargeable in the sale invoice.
Thanks and regards,
For P S Chavan & Co.,
Chartered Accountants
FCA Prashant Chavan
Mumbai-prashant.pscl07@gmail.com
Dear Prashant,
The higher of VAT @ 12.5% or the VAT rate prevalent in the State of sale is chargeable in the sale invoice.
Thanks and regards,
For P S Chavan & Co.,
Chartered Accountants
FCA Prashant Chavan
Mumbai-prashant.pscl07@gmail.com
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