A co-op housing society has received Rs.13 lacs from sale of scrap during the year. this is a one time activity & does not happen every year.
However, does the society become a deemed dealer & is liable to charge Vat as the turnover exceeds Rs.5 lacs?
If No, kindly giv eme the link to the relevant provisions n sections.
Request your reply urgently
thanks in advance
CAclubindia
