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VAT ON RESALE OF USED ASSETS

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(Querist)
25 June 2008 Please let me know the % of VAT for resale of Used assets?. Please take FY 2007-2008 into consideration while answering this question.. Thanks
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Sanjeev Kumar

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Sanjeev Kumar (Expert)
07 July 2008 its depend on facts i.e. if that assets sold as scrap (assets are not further usable)then VAT@4% otherwise rate of tax would be respective assets as scheduled under VAT
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