VAT ON RESALE OF USED ASSETS
This query is : Resolved
25 June 2008
Please let me know the % of VAT for resale of Used assets?. Please take FY 2007-2008 into consideration while answering this question.. Thanks
Sanjeev Kumar
(Expert)
07 July 2008
its depend on facts i.e. if that assets sold as scrap (assets are not further usable)then VAT@4% otherwise rate of tax would be respective assets as scheduled under VAT
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