Sale of DEPB
This query is : Resolved
16 July 2009
Sir,
Please let me know whether sale of DEPB LICENCE attract vat @4% under DVAT.
Is DEPB licence is goods under the DVAT ACT,
AMRITESH
Please let me know whether sale of DEPB LICENCE attract vat @4% under DVAT.
Is DEPB licence is goods under the DVAT ACT,
AMRITESH
18 July 2009
Yes. It is goods liable to VAT. Further, income generated through sale of DEPB is also taxable under Income Tax.
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