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Vat Applicable or not

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(Querist)
28 June 2009 If stock or fixed assets given to partner against his capital for running their business as a individual then VAT applicable or not. If yes the what percentage?

Secondly partnership continue.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
29 June 2009 Is this case of lease?
If yes, then VAT will be levied @ 4%.
If you could further elaborate your case, a clear picture can be formed.

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