Is VAT Attracted on sale of any fixed asset?

2798 views 2 replies

Please tell me whether VAT is attracted on sale of Fixed Asset which is in the books of a firm in TAMILNADU. If so at what rate? and Why is it attracted & Is it Applicable even for Sole Proprietory Firms? Pls Help

Replies (2)

Yes

Vat applicable on sale of fixed assets. Existing Rate of Vat will be charged on that asset like Vat on Plant  & machinery @ 4% then you will charge 4% vat on sale amount. But applicable on sole proprietor ship firm you have to wait for another reply on this.

Only on the profit on sale of assets VAT has to be paid. i.e. VAT on difference of sale and book value of asset. It is applicable for every registered dealer including Sole-propreitor

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details