If M/s A is registered dealer having TIN no for carrying its business of Preparing & selling Food items. In FY 2009-10, it sold a Generator (Fixed Assets) to one of the Pvt. Ltd. Co., Should M/s A charge a VAT on selling of Generator?
If M/s A is registered dealer having TIN no for carrying its business of Preparing & selling Food items. In FY 2009-10, it sold a Generator (Fixed Assets) to one of the Pvt. Ltd. Co., Should M/s A charge a VAT on selling of Generator?
I think u should not charge vat on selling of fixed assets because It does not come under trading business.
CAclubindia
