11 June 2009
1.whether vat can be levied on the sale of the fixed assets which is not regular business of the aseesee?
2.in service tax on transportation,there is a provision that on 25% of the total frieght,service tax can be levied. my query is that whether the person who has paid such service tax ,can he claim credit of such service tax?
pls reply as soon as possible. with regards, C.A.NISHIT DOSHI
1) Yes VAT is applicable on sale of fixed assets, as you are selling the taxable items as per the purview of VAT laws.
2) Yes , you can claimed the service tax paid on frieght , as recently new case has been decided by banglore high court. There is no doubt in that regard........
CAclubindia
