Vat payable on second hand capial goods sale
This query is : Resolved
Alpesh Patel
(Querist)
04 October 2012
ABC FIRM (GUJARAT) BOUGHT A MACHINERY FROM DELHI IN JAN 2011. IN FEB 2012, ABC FIRM SALES SUCH MACHINERY TO LOCAL FIRM. IS VAT CHARGEABLE ON SUCH SALE BY ABC? IF YES HOW MUCH? FURTHER IF VAT IS CHARGED THEREON, SUCH VAT INPUT CREDIT CAN BE AVAILED BY BUYER OF SUCH SECOND HAND MACHINERY PURCHASE?
CA CS Amit S. Kedia
(Expert)
04 October 2012
VAT is also applicable on second sale
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