Sale of ,scrap by a co-op housing society

elroy (Practicing CA) (90 Points)

05 September 2013  

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