If M/s ABC, is a AOP operating in Mumbai, producing short films. It exports & telecasts it in Hongkong & in India on various channels. Basically it sales the short film produced to the Channel Company telecasting it with charging VAT or CST.
My question is:
The company wants to sales its Fixed Assets (For Eg: Office Furniture, Camera,etc.) to a person within Mumbai. Is MVAT is applicable on the sale of Fixed Assets? If yes, then what would be the rate of VAT charged?
CAclubindia
