28 June 2011
Hi, One service industry, is transferring the unit and selling the assets, whether VAT need to be registered and VAT is charged for this one time sales invoice.
28 June 2011
Mr Author, A service industry is not eligible for registration under a VAT Act in any state.So, taking a registration for a one time sale does not arise. Sale of assets in this case have to be done on a letterhead only and no VAT can be charged. MJK