sell of old machinery and furniture

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 January 2011 The company (in delhi) has sold some part of its Plant & Machinery and Furniture in delhi itself . It has charged VAT on the invoices in case of furniture (old) Vat is charged @12.5% and in case of Plant & Machinery (old) Vat is charged @5%.

Please advise on the applicability of VAT tax rate.

03 February 2011 if the Plant & Machinery and furniture is Purchased from delhi and input Tax Credit is not availed on these items being(Capital Purchase) Retail Invoice received. there is no liability to charge VAT on sales because tax has already gone to government. there cannot be double taxation

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 February 2011 Not agreed




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