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,
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Vat on sale of used fixed assets
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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