I BOUGHT A ASSET AS ON 01/09/2010 FOR RS.100000 AND SOLD FOR RS.40000 IN 21/01/2012. ASSET DEPRECIATED FOR RS.30000.I SOLD ASSET AT A LOSS . PLEASE LET ME KNOW THAT I HAVE TO PAY ANY KIND OF SERVICE TAX ON SALE OF ASSET @ 12.50%.
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Sale of asset
Replies (9)
VAT is payable on sale of Asset @ 12.50%.
No Service tax.
Only VAT @ 12.50% applicable on sale value
Only VAT @ 12.50% applicable on sale value
YES NO SERVICE TAX...
NO SERVICE RENDERED.
I think no service tax & no vat.wait for other reply.
VAT is leviable on sales of assets @ 12.5% you can take input if invoice is raised.
VAT is leviable on sales of assets @ 12.5% you can take input if invoice is raised.
Thank you all of you for your kind reply .
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