Vat applicability

This query is : Resolved 

Querist : Anonymous (Querist) 05 January 2012

Dear sir/madam,

i am working as a taxation executive in a pvt ltd comapany.

i am having doubt about vat on resale of fixedassets, whether vat is aplicable or not in tamilnadu.

kindly clarify


MJ Krishnamurthy (Expert)
06 January 2012

Mr Madusudan,
In any state there is no VAT on sale of immovable assets such as land and buildings,but if the fixed asset can be removed and sold i.e. machineries,plants etc then it becomes taxable.

Querist : Anonymous (Querist) 25 January 2012


Thanks for your guidance sincire reply

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