Vat is applicable on sale of capital goods
This query is : Resolved
01 March 2012
Respected sir,
our's a mining co purhchased machinery, at the time of purchase we have not taken VAT credit on machinery today we sold is VAT applicable on that sale we are liable to pay VAT. Please suggest me.
our's a mining co purhchased machinery, at the time of purchase we have not taken VAT credit on machinery today we sold is VAT applicable on that sale we are liable to pay VAT. Please suggest me.
05 March 2012
If you have taken VAT no. or if Machinery sale value is Above Rs.500000/- then you have to pay VAT on it.
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