Vat on sale of fixed asset

Others 898 views 3 replies

Sir, we are logistics service provider based in gurgaon, haryana. Since we are a part of  service industry we are not registered under hvat. We have sold some trucks to party.

Now, we seeks advice whether sale of trucks laible to vat?

I request you to share your knowledge.

Thanks in advance

Replies (3)

No. SInce VAT is leviable on goods traded and not on goods held as fixed assets.

Thanks dharmendra. Can you quote any reference of law?

vat is leveid on sale of fixed assets under MVAT..


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