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,
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,
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
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
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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