I want to know that there are two foreign entities merging and one of them has assets in India, so would VAT be applicable to this transaction. As per the research what I have done it looks like VAT is not imposed on 'sale of business as a going concern' or 'slump sale' but in this case it is a MERGER not a sale of business. I would be glad if someone could answer it with relevant provisions or case laws. Thanks !!
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Vat on mergers
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Dear aditya :
VAT is applicable on sale of goods ....
In your case there is no sale of goods and hence no VAT....
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