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Mvat applicability for company in engg services only

Girish Joshi (Practice) (67 Points)

23 November 2012

The company is in engineering services.No product sale.So not registered under MVAT.If any fixed Asset is sold whether MVAT is applicable.Whether to be registered under MVAT only for this purposse ?

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CA chirag mehta (Practice CA) (75 Points)
Replied 23 November 2012

If the turnover exceeds Rs.500,000/- under MVAT Act,2002 then Vat Registration is complusory & otherwise valuntarly can ba applied if sale of fixed assets does not exceeds amount of rs 500,000/- then no vat levied by client as no complusory vat no is required sale as URD-unregistered delare