Tax implication on Sale of Machinery
This query is : Resolved
Deepak Sharma
(Querist)
03 January 2008
A Partnership Construction Firm transfers their Concride Mixer Machine to their Partner at the time of Desolution.
What will be the VAT Liability of Firm on Sale of Machinery ?
What will be the VAT Liability of Firm on Sale of Machinery ?
M.JANAK RAO
(Expert)
03 January 2008
1. @12.5% VAT on Concride Mixer Machine, if Item will be sale and showing to Partner Personal Balance sheet,
2. If it will be showing Firm Balance Sheet ( Vat Liabilty is NIL)
2. If it will be showing Firm Balance Sheet ( Vat Liabilty is NIL)
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