Vat on sale of FA

No VAT is not payable on sale of FA.

Regards

Sanyam Arora

Mr Sukantha Mohanty,

  On every sale there should be an invoice. If you are selling at a loss then you will get some refund of VAT paid already. When there is value addition to the goods at a sale point, you will pay some tax after deducting the input,but, when there is value reduction at a sale point(which is not common), or there is a rate reduction  (as it happens in CST sales) there will be some refund of VAT. I do not know if what Mr S Arora says is correct. As per my knowledge sale of an excavator is not exempt from VAT in Karnataka.

MJK 

F. Assets is goods only and VAT is applicable if the product is not exempted.

And even if you are selling at loss, Vat is to be charged.

VAT is applicable on sale of any fixed assets