sell of old machinery and furniture
This query is : Resolved
Querist : Anonymous
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.
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
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 February 2011
Not agreed
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