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?
1 Replies
Pankaj Arora
(Learner)
(3134 Points)
Replied 03 January 2011
I think u should not charge vat on selling of fixed assets because It does not come under trading business.
Recent Topics
- Need ITAT appeal drafting services
- Section 10(14) exemptions
- UPI Transaction May Stop If Your App Does Not Foll
- ACCOUNTING ENTRY UNDER GST SECTION 17(5)(H)
- VIU tax provisions
- TDS Deduction incase of Jointly purchasing propert
- Capital gain in case of Acquisition by a US Listed
- GST- GSTR2B Value Zero in ITC and Liability compar
- TDS deduction on Metal Scrap sale in GST regime
- Late fee GSTR 9 annual return 2021-22
Related Threads
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
