Urgent!!! help ~ pls~~~~

Dear Members

Kindly help me out in finding answer for this query .... Urgent Pls.

If a unit closed and having some asstes in custody and planning to sell the same but VAT Registration surrendered by them. Is it possible to pay the VAT by the buyer. Or any other way on this.

Thanks in advance ... Kindly reply friends....

Kannan

 

 

 

Replies (6)

Urgent ... any sales tax expert help me out

 

Thanks / Kannan

Dear Sir

You have to Pay the VAT on this by writing letter enclosed with proof.

 

Purchaser can not take VAT Input Claim because of you can not give him Tax Invoice.

 

You may be panelised also because of you surrendered your number by having Assets.

 

 

Feel free to ask any further query relates with VAT, ROC, Income Tax, etc or work

 

Regards

CS Nitin Grover

+91-9582009494

Thanks Nitin

We should not surrender the TIN unless sold all the material( Stock & Assets ).

Kindly help me out in the pocedures.

 

Thanks / Kannan

 

 

yes sir exactly

or you should pay tax during surrender of RC becaue of you are having Tax.

 

now sell your Assests in previous date by this buyer can also take input claim and deposit tax  with interest to the VAT Authority.

or pay tax now (buyer can not take Input VAT Claim)

 

Regards

Is there any way for the Buyer to pay tax & avail credit like Purchase Tax or  like wise.

Thanks / Kannan 

Dear Sir

 

Sale this Assets (date before surrender the Assests) and he can claim the input and you have to pay only interest on Tax Amount.

 

 

Regards
 

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