Vat on sale of asset by companies
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 August 2014
My client is software development company. It has a policy of selling used vehicles to its employee. Is the company liable to charge VAT on such sale?
Further Is VAT chargeable by company in case of sale of scrap?
Further Is VAT chargeable by company in case of sale of scrap?
10 August 2014
Yes Boss, Vat is vey much applicable if Co. is selling used Vehicles to its employees and price received from such sales exceed Rs.10Lacs Gross. then Co. is liable for Vat Registration and has to charge Sales Tax.
10 August 2014
Yes Boss, Vat is very much applicable if Co. is selling used Vehicles to its employees and price received from such sales exceed Rs.10Lacs Gross. then Co. is liable for Vat Registration and has to charge Sales Tax.
12 August 2014
yes vat is chargeable in both cases.
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