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Vat on sale of used fixed assets

VAT (Legacy) 3965 views 4 replies

I want to know that when we sale any used fixed assets,than what is the procedure i have to follow under G Vat , which are the provision applies to that,
 

Replies (4)

I dont know about GVAT but under Karnataka VAT laws you have to shell out 14.5% on sale of fixed assets irrespective of whether you have claimed input on purchase of the capital asset

Better check your state provisions as to what they say in thid regard

as i thinking that we have to pay tax as local tax or vat rate applies to the same item

i.e. nothing but sale transaction

Hi,

Wanted to know MVAT % on Used Assets sale

 

 


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