30 March 2013
is VAT is applicable in case of Acquisition & Merger where asset is transfer from buying co. to selling co. Please provide Case law related to same.
30 March 2013
Mr H Kothari, It is generally exempt in all VAT Acts in India. In Karnataka under rule 3(2)(g) it tis given that all amounts realised by sale of a busines as a whole is to be excluded from taxable turn over. If you mention your state relevant rules can be searched for......mjk
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