Vat on sale of machinery
This query is : Resolved
CA. Deepak Narula
(Querist)
15 February 2012
Hi,
If a prop firm deals in a tax free goods(i.e cloth) having no Vat no., sell a part of its used machinery. weather vat is payable on the sale value of the used machinery.
what is the Vat Treatment in this case.
Thanks & Regards
Deepak
If a prop firm deals in a tax free goods(i.e cloth) having no Vat no., sell a part of its used machinery. weather vat is payable on the sale value of the used machinery.
what is the Vat Treatment in this case.
Thanks & Regards
Deepak
15 February 2012
yes, VAT is to charge whether the regular traded goods are tax free or not. it does not affect the changeability in this case.
CA CS Pawan Jajoo
(Expert)
15 February 2012
Yes Vat is to be paid on sale of Machinery.
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