Slump sale
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 August 2012
is there VAT And Sales Tax is charged on Slump sale...
10 August 2012
Judicial precedents in the past have held that reconstruction of business by way of ‘slump sale’ or sale of business as a going concern does not qualify as a taxable sale of goods, hence no Sales tax/ VAT applies on such transactions. [Coromandal Fertilizers v. State of Andhra Pradesh (112 STC 1); Zacharia v. State of Kerala (39 STC 221)].
Judicial precedents in the past have held that reconstruction of business by way of ‘slump sale’ or sale of business as a going concern does not qualify as a taxable sale of goods, hence no Sales tax/ VAT applies on such transactions. [Coromandal Fertilizers v. State of Andhra Pradesh (112 STC 1); Zacharia v. State of Kerala (39 STC 221)].
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
