Is VAT Attracted on sale of any fixed asset?

Yes

Vat applicable on sale of fixed assets. Existing Rate of Vat will be charged on that asset like Vat on Plant  & machinery @ 4% then you will charge 4% vat on sale amount. But applicable on sole proprietor ship firm you have to wait for another reply on this.

Only on the profit on sale of assets VAT has to be paid. i.e. VAT on difference of sale and book value of asset. It is applicable for every registered dealer including Sole-propreitor