Vat on transfer of fixed assets
This query is : Resolved
02 March 2014
deat experts m query is
m client closes his partnership firm and want transfer the fixed assets to his Pvt Ltd Co.so what the effect of VAT in this case
03 March 2014
VAT is to be paid on sale of fixed assets. If the assessee has unutlized input VAT, then he can use the same to pay the Output VAT.
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