Can someone post the notification from the TNVAT act regarding "sale of old machinery which had suffered tax during purchase under TNGST".
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Sale of used machinery - tnvat
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Dear Alamelu,
The machinery purchased during the TNGST regime and sold during VAT regime, it is to be taxed at the appropriate rate of 4%. Since it is purchased during TNGST regime the input credits are not allowed.
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