Vat applicability

This query is : Resolved

Querist : Anonymous

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

Regards
Madhusudhan.A

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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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.
MJK

Querist : Anonymous

Querist : Anonymous (Querist)

25 January 2012 Sir,

Thanks for your guidance sincire reply