18 May 2009
One of the activity (demerger) of business is demereged into another business including manufacturing units / other assets. Whether VAt is payable upon execution of this transaction on the trading stocks in Maharashtra
19 May 2009
I am of the opinion that upon taking over a business under an agreement, which, infact, is not a sale (which could be defined as restucturing of business whether under court's orders or not - the liability of payment of VAT occurs upon actual sale of the stocks to the subsequent trader or end user. I need someone to logically [under VAT provisions (Maharashtra)] could ratify my views or explain the actual position.
CAclubindia
